SBM Offshore announced on Thursday that ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) has awarded the company contracts to perform front end engineering and design (FEED) for a third floating production, storage and offloading vessel (FPSO) in Guyana.

The FPSO, to be named Prosperity, will be designed to produce 220,000 barrels of oil per day, will have associated gas treatment capacity of 400 million cubic feet per day and water injection capacity of 250,000 barrels per day. The FPSO will be spread moored in water depth of about 1,900 meters and will be able to store around 2 million barrels of crude oil for the Payara development project located in the Stabroek block.

The Prosperity FPSO will utilize a design that largely replicates the design of the Liza Unity FPSO, also being constructed for ExxonMobil for deployment in Guyana. The design is based on SBM Offshore’s Fast4Ward program that incorporates the company’s newbuild, multipurpose hull combined with several standardized topsides modules. 

SBM Offshore CEO Bruno Chabas said, “The successful team work with our client ExxonMobil on the Liza Destiny and Liza Unity FPSOs provided a solid foundation for this award. This project will be adding further traction to SBM Offshore’s Fast4Ward program as its design is incorporating our multipurpose hull and a number of standardized modules.”

Prior to necessary government approvals and project sanction, the contract award will initiate a limited release of funds to begin FEED activities and secure a Fast4Ward hull.

Following FEED and subject to government approvals in Guyana, project sanction and an authorization to proceed with the next phase, SBM Offshore will construct, install and then lease and operate the FPSO for a period of up to two years, after which the FPSO ownership and operation will transfer to EEPGL.

EEPGL is the operator of the Stabroek block with partners Hess Guyana Exploration Ltd. and CNOOC Petroleum Guyana Limited.