Exxon buys Liza Unity vessel from SBM for US$1.3 billion

Nov 10, 2023 ExxonMobil, News, Oil & Gas

Kaieteur News – Dutch shipbuilder, SBM Offshore on Thursday disclosed that it completed a transaction with ExxonMobil Guyana Limited for the purchase of the Liza Unity floating, production, storage and offloading (FPSO) vessel.

SBM said the purchase occurred a few months ahead of the end of the maximum lease term, in February 2024. SBM said the purchase allows ExxonMobil Guyana to assume ownership of the unit while SBM Offshore will continue to operate and maintain the FPSO up to 2033.

The transaction comprises a total cash consideration of US$1.26 billion. The net cash proceeds will primarily be used for the full repayment of the US$1.14 billion project financing and as such will decrease SBM Offshore’s net debt position.

SBM said via a statement that the Liza Unity has been on hire since February 2022 and up to 2023 it was operated through the integrated operations and maintenance model combining SBM Offshore and ExxonMobil’s expertise and experience to deliver outstanding operational performance.

Kaieteur News previously reported that the Liza Unity FPSO is designed to produce approximately 220,000 barrels of oil per day, to have associated gas treatment capacity of 400 million cubic feet per day and water injection capacity of 250,000 barrels per day. The FPSO is spread moored in water depth of about 1,600 meters and is be able to store around two million barrels of crude oil. There are total of 19 topsides modules.

The FPSO represents SBM Offshore’s first Fast4Ward® design, benefitting from standardization of the project’s execution plan and using a fully completed and commissioned MPF hull, which sets the benchmark for future FPSO projects.

The Liza Unity FPSO has also been awarded the SUSTAIN-1 notation by ABS, the Classification Society. This means that the design and construction of the unit is assessed against and adheres to the requirements of the ABS Guide for Sustainability Notations, aligned with the applicable UN Sustainable Development Goals. The Liza Unity is also the world’s first FPSO to achieve such recognition for sustainability for its design, documentation and operational procedures. Examples of features recognized by the SUSTAIN-1 class notation include energy efficiency management, mitigation of ozone depleting substances and management of hazardous materials throughout the life cycle.

The Liza Unity currently operates alongside the Liza Destiny FPSO which was also constructed by SBM. Both ships are producing about 400,000 barrels of oil per day in the Stabroek Block which measures 6.6 million acres.

ExxonMobil Guyana Limited is operator in the Stabroek Block and holds 45 percent interest in the offshore concession. Hess Guyana Exploration Ltd. holds a 30 percent interest and CNOOC Petroleum Guyana Limited holds 25 percent interest.

ExxonMobil Guyana Limited, Liza Unity, operational, SBM Offshore, shipbuilder

Latest News

Exxon buys Liza Unity vessel from SBM for US$1.3 billion

Related

Similar Articles

The Glenn Lall Show|| April, 4th, 2025

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

President’s College upstage Santa Rosa to advance into Quarters

CWI withdraws penalty on John Campbell following...

‘One Guyana’ 3×3 Quest Basketball opens...

GCA, East Coast surge to huge wins

GFF/Concacaf kick off two-day Match Commissioners...

Chase’s Academic outclass Bartica to move...

Features/Columnists

Anticipation without preparation

The U.S. “Joining” the Commonwealth: an unreasonable expectation

Access to information should not come to this

Publisher’s Note

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]

Exxon buys Liza Unity vessel from SBM for US$1.3 billion

Share this:

Related

Similar Articles

The Glenn Lall Show|| April, 4th, 2025

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

Features/Columnists

Publisher’s Note

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]