Dutch floater expert SBM Offshore has inked a 10-year deal with ExxonMobil Guyana for the operations and maintenance of four floating production, storage and offloading (FPSO) units in the country.
The framework agreement, which covers FPSOs Liza Destiny, Liza Unity, Prosperity and One Guyana, establishes the new terms related to the operations of the Guyana FPSO fleet for a period of up to 2033. The lease terms and durations remain the same for all units, with 10 years lease for Liza Destiny and up to two years lease for Liza Unity, Prosperity and One Guyana after which the FPSOs’ ownership will transfer to the client.
“This contract supports SBM Offshore’s long-term business vision in Guyana enabling the company to perform local and sustainable investments in people and infrastructure as well as to deploy its digital and operational technologies to the Guyana fleet. The estimated impact on the revenue backlog is around $3bn based on various operating and maintenance assumptions,” SBM Offshore said.
SBM Offshore will operate the units through an integrated operation model, that encompasses an organisation model that includes seconding ExxonMobil Guyana employees in some key onshore and offshore positions.
“This integrated operation model is the first of its kind in the industry and extends our relationship with ExxonMobil Guyana by integrating further our teams. We believe it is the optimal solution to achieve excellence in the operation of Guyanese assets, bringing value to all stakeholders and setting a new performance benchmark for the industry,” noted Bruno Chabas, CEO of SBM Offshore.
