The Dutch FPSO leasing specialist SBM Offshore said Friday the construction of the topside modules had kicked off in Singapore for one of the company's largest-ever FPSO units, the One Guyana FPSO.

"During September this year, two steel strike ceremonies were held in both Keppel FELS and DynaMac yards. This marks a key milestone, which is the start of the fabrication of the marine structures and the topside modules," SBM Offshore said.

SBM Offshore received an order from ExxonMobil in April to deliver the One Guyana FPSO for the Yellowtail development offshore Guyana. This will be the fourth and largest FPSO to be deployed offshore Guyana.

The FPSO will be designed to produce 250,000 barrels of oil per day, will have an associated gas treatment capacity of 450 million cubic feet per day, and a water injection capacity of 300,000 barrels per day. The FPSO will be spread-moored in a water depth of about 1,800 meters and will be able to store around 2 million barrels of crude oil.

The order confirmation came after ExxonMobil sanctioned the $10 billion Yellowtail oil field development.

Under the contracts with Exxon, SBM Offshore will build, install, lease, and run the FPSO for up to two years. After that, ExxonMobil will take over ownership and operation of the FPSO. The first oil is expected in 2025.