SBM Offshore’s FPSO Prosperity entering drydock in Singapore

SBM Offshore’s FPSO Prosperity, destined to operate for ExxonMobil offshore Guyana, has reached another milestone after entering drydock at a yard in Singapore.

The hull for the FPSO Prosperity, the third production unit to operate offshore Guyana once completed, arrived at the Keppel yard in Singapore in mid-August. Following the arrival, the next phase of construction was expected to start, including the integration of topside modules.

SBM Offshore informed that the Prosperity FPSO had entered drydock at the yard in Singapore in an update on Wednesday.

According to SBM, the project team will continue the construction with the next steps being the installation of mooring structures and riser support. The FPSO is being constructed for ExxonMobil and it will join two other SBM-constructed FPSOs, Liza Destiny and Liza Unity, in Guyanese waters.

SBM Offshore has already completed the project financing for a total of $1.05 billion for the FPSO Prosperity. The project loan has a tenor of two years post-completion, in line with the duration of the charter, and carries a variable interest rate plus 1.60 per cent.

The unit is designed to produce 220,000 barrels of oil per day, with an associated gas treatment capacity of 400 million cubic feet per day and a water injection capacity of 250,000 barrels per day. It will be spread moored in a water depth of about 1,900 meters and will be able to store around 2 million barrels of crude oil.

The vessel will work on the Payara development, circa 200 kilometres offshore Guyana. The Payara project will target an estimated resource base of about 600 million oil-equivalent barrels. It is expected to produce up to 220,000 barrels of oil per day after startup in 2024.

The Liza Destiny has been operating off Guyana since late 2019 and the Liza Unity set sail from Singapore to Guyana in early September 2021. The vessel was in Singapore for the topside integration phase, which was done by Keppel.

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