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Exxon Prosperity FPSO Leaves Dry Dock

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The construction of the third FPSO that ExxonMobil will deploy at the Stabroek Block offshore Guyana has hit a new milestone as the Prosperity FPSO left dry dock in Singapore. The second Fast4Ward FPSO built by SBM Offshore in February moved to the quay side for the topside integration phase.

The hull for the Prosperity FPSO arrived safely at the Keppel yard in Singapore in August last year. Drydock activities that kicked off in the fourth quarter of 2021, included the installation of major structures that will support the Mooring and Subsea Risers. As SBM noted, the next phase of construction will include the topside modules being integrated at the yard.

Once completed in 2024, the Prosperity FPSO will join SBM-constructed FPSOs, Liza Destiny and Liza Unity, in Guyanese waters. Liza Destiny FPSO began production in December 2019, while Liza Unity which is the first unit with a design based on SBM Offshore’s Fast4Ward program started producing in February.

Both units are producing oil at the Liza field in the Stabroek Block, while Prosperity FPSO will be deployed at the Payara field, the third project in the Stabroek Block, and is expected to produce approximately 220,000 barrels of oil per day.

The current resource offshore Guyana has the potential to support up to 10 projects. ExxonMobil anticipates that four FPSOs with a capacity of more than 800,000 barrels per day will be in operation on the Stabroek Block by year-end 2025.

In November last year, ExxonMobil awarded contracts to SBM Offshore to perform Front End Engineering and Design (FEED) for a Floating Production, Storage, and Offloading vessel (FPSO) for the Yellowtail development project.

The FEED contract award triggers the initial release of funds by ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited (EEPGL) to begin FEED activities and secure a Fast4Ward hull.

Following FEED and subject to government approvals in Guyana of the development plan, project sanction including the final investment decision by ExxonMobil, and EEPGL’s release of the second phase of work, SBM Offshore will construct, install, and then lease the FPSO and operate it for a period of up to 2 years. First oil is expected in 2025.

In the past several days all of the above has occurred. Guyana has approved development, Yellowtail has been sanctioned, and SBM has been confirmed the award for the construction of the One Guyana FPSO set to work on the project.

ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited is the operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration holds 30 percent interest and CNOOC Petroleum Guyana Limited, a wholly owned subsidiary of CNOOC Limited, holds 25 percent interest.

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