Liza I & II FPSOs are ‘cash cows’ for Exxon’s builders …as Brazil places their FPSO order on hold

Dutch floater specialists, SBM Offshore—the company that has secured a contract with ExxonMobil Guyana, for the construction of several Floating, Production, Storage and Offloading Vessels (FPSO)—has reported double digit profit margins, earning more than $1.4B already for this year.

This, in addition to a still to be accessed loan facility for another US$1.1B—the good news stemming primarily from its operations related to the Guyana Stabroek Block, with the construction of two FPSOs – the Liza Unity and Liza Destiny (for the Liza I&II oil fields.)
Plans and contracts are already underway for a third FPSO, the Liza Prosperity.
The Dutch company was contracted by ExxonMobil Guyana subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), the operator of the Stabroek Block and has as its partners ExxonMobil (45%), Hess Corporation (30%) and CNOOC-Nexen (25%).

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