(Piero Stewart, Energy Analytics Institute, 21.Nov.2024) — SBM Offshore completed the project financing of the floating production storage and offloading (FPSO) vessel Jaguar for a price of $1.5bn.
The project financing was fully secured by a consortium of 16 international financial institutions, SBM said 21 Nov. 2024 in an official statement.
SBM expects to draw the loan phased over the construction period of the FPSO. And, the project loan is in line with the duration of the construction phase, SBM said.
The FPSO Jaguar’s design is based on SBM’s Fast4Ward® program that incorporates the company’s seventh new build, multi-purpose floater hull combined with several standardized topsides modules.
The FPSO is designed to produce 250,000 barrels per day (b/d) of oil and will have associated gas treatment capacity of 540 million cubic feet per day (MMcf/d) and water injection capacity of 300,000 b/d. The FPSO will be spread moored in water depth of about 1,630m and will be able to store around 2 million barrels of oil (MMbbls), SBM said.
The project is part of the Whiptail development, which is the sixth development within the prolific Stabroek block, some 200km offshore Guyana.
ExxonMobil Guyana Ltd, an affiliate of ExxonMobil Corporation, operates Stabroek with a 45% interest. Other partners in the block with Exxon include Hess Guyana Exploration Ltd. (30%. WI) and CNOOC Petroleum Guyana Limited (25% WI).
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By Piero Stewart reporting from Caracas. © Energy Analytics Institute (EAI). All Rights Reserved.