The latest floating production, storage, and offloading (FPSO) news

 SBM Offshore FPSO getting ready to sail toward 

 ExxonMobil’s Guyanese oil project next year 

Dutch FPSO operator SBM Offshore has tucked a new milestone under its belt with the completion of a floating production, storage, and offloading (FPSO) vessel’s final module lifts at Seatrium’s yard in Singapore. This FPSO will work on ExxonMobil’s fourth oil project in the Stabroek block off the coast of Guyana.

FPSO One Guyana; Source: SBM Offshore

ExxonMobil sanctioned its fourth project within the Stabroek block, called the Yellowtail development project, which comprises six drill centers and up to 26 production and 25 injection wells, in April 2022 and followed it up with a contract confirmation with SBM Offshore for the supply of the FPSO One Guyana.

 With giant newbuild FPSO anchored at Norwegian field, 

 hook-up and first oil next on the agenda 

Norwegian state-owned energy giant Equinor has anchored its new floating production, storage, and offloading (FPSO) vessel to the seabed with mooring lines and will proceed to complete the rest of the items on the production start-up list to bring its oil project in the Barents Sea online, enabling the FPSO unit to embark on a three-decade assignment off the coast of Norway.

FPSO Johan Castberg in Barents Sea; Credit: Lars Morken/Equinor

After the FPSO Johan Castberg’s hull and living quarters were transported from Singapore to Stord for installation and commissioning in 2022, the project’s start-up was moved to Q4 2024 due to delays and cost overruns, pushing the Johan Castberg partnership to revise the cost estimate to NOK 80 billion (almost $7.4 billion) in September 2023. The plan for development and operation (PDO) of the Johan Castberg project was submitted in 2017, with a cost estimate of NOK 57 billion (close to $5.3 billion).