Keppel Shipyard has won a floating production storage and offloading (FPSO) vessel conversion contract from SBM Offshore for ExxonMoibil's Liza development offshore Guyana.
The contract is for the conversion of a very large crude carrier (VLCC) into an FPSO, which will be deployed to the Liza field, about 193km offshore Guyana in the Stabroek block.
In June this year, ExxonMobil and partner Hess have made a final investment decision to proceed with a US$4.4 billion first phase of development of the Liza field.
Exxon said that the Liza Phase 1 development will include a subsea production system and an FPSO designed to produce up to 120,000 b/d. Production is expected to begin by 2020, less than five years after discovery of the field.
Phase 1 includes a lease capitalization cost of approximately $1.2 billion for the FPSO facility, and will develop about 450 MMbo.
The converted VLCC FPSO will be spread moored in water depth of 1525m and will be able to store 1.6 MMbbl of crude oil.
The shipyard's work scope includes refurbishment and life extension works, such as the upgrading of living quarters, fabrication and installation of spread mooring systems, as well as the installation and integration of topside modules.
It is Keppel's 25th major contract from SBM Offshore since the firms starting working together in 1981.
The converted FPSO will have a storage capacity of 1.6 MMbo. The vessel will also have a gas treatment capacity of circa 170 MMscf/d and a water injection capacity of about 200,000 b/d.
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