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SBM Offshore completes financing for FPSO Liza

SBM Offshore completes financing for FPSO Liza

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Netherlands-based SBM Offshore announced on Wednesday it has completed project financing of $720m for the floating production, storage and offloading (FPSO) vessel Liza, which is destined for work off Guyana in South America.

The multinational oilfield services firm acquired the loan from a consortium of 12 international banks.

Conversion will entail transforming a very large crude carrier (VLCC) into an FPSO at Keppel Shipyard in Singapore.

When conversion is completed, Liza is destined for the Liza Phase 1 project in the Stabroek Block, being developed by a consortium of an Exxon subsidiary, Hess Corporation and CNOOC. Liza is one of the biggest oil finds of recent years.

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Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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