SBM Offshore closer to floating storage facility at Liza field

Dec 22, 2017 News

SBM Offshore continues the mobilising effort to fulfill its contract to undertake the floating production storage and offloading (FPSO) facility, dubbed FPSO Liza, to extract oil at the Liza field in the Stabroek block offshore Guyana
The company has secured US$720million from 12 international banks and will be drawn in full, phased over the construction period of the FPSO.
FPSO Liza is owned and will be operated by SBM Offshore. The lease and operate contract includes an initial period of ten years with extension options up to an additional ten years.
The FPSO is designed to produce up to 120,000 barrels of oil per day, will have associated gas treatment capacity of about170 million cubic feet per day and water injection capacity of some 200,000 barrels per day.
The company’s Very Large Crude Carrier (VLCC) FPSO will be moored at the Liza field located in the Stabroek block in water depth of 1,525 meters. It will be able to store 1.6 million barrels of crude oil.

The Bahamas-flagged Tina VLCC which is to be converted

The Bahamas-flagged Tina VLCC was selected by SBM Offshore for the conversion. Esso Exploration and Production Guyana Limited is the operator and holds a 45% interest in the Stabroek block.
Hess Guyana Exploration Ltd. holds a 30% interest, and CNOOC Nexen Petroleum Guyana Limited holds a 25% interest.