Latest update March 27th, 2025 8:24 AM
Latest News
- Jamaica rebuffs Rubio push against Cuban doctors
- Canadian company to pay over US$3.8M to local titleholders to fully acquire second gold project in Guyana
- Over 140,000 displaced in a week in Gaza amid renewed Israeli attacks: UN
- Businessmen complain of foreign currency shortage
- PPP disrupts meeting with Mohamed and Berbice residents
SBM Offshore closer to floating storage facility at Liza field
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.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
The U.S. pressure on Venezuela may backfire on Guyana
Peeping Tom… Kaieteur News- The world is full of unintended consequences, those sly little gremlins that slip into... more
The Caribbean: Destined to Grin and Bear the Consequences of Its Self-Created Vulnerabilities?
By Sir Ronald Sanders For decades, many Caribbean nations have grappled with dependence on a small number of powerful countries... more
Weekend Cartoon
