SBM Offshore Awarded Contracts for ExxonMobil Guyana’s FPSO Jaguar

April 12, 2024

SBM Offshore is pleased to announce that ExxonMobil Guyana Limited (“EMGL”) has confirmed the award of contracts for the Whiptail development project located in the Stabroek Block in Guyana. Under these contracts, SBM Offshore will construct and install FPSO Jaguar. Ownership will transfer to EMGL prior to the FPSO’s installation in Guyana, and SBM Offshore expects to operate the FPSO for 10 years under the Operations and Maintenance Enabling Agreement signed in 2023. The award follows completion of front-end engineering and design studies, receipt of requisite government approvals and the final investment decision on the project by ExxonMobil and block co-venturers.

The Whiptail development is the sixth development within the Stabroek block, circa 200 kilometers offshore Guyana. EMGL is the operator and holds a 45 percent interest in the Stabroek block, Hess Guyana Exploration Ltd. holds a 30 percent interest and CNOOC Petroleum Guyana Limited, holds a 25 percent interest.

The FPSO Jaguar’s design is based on SBM Offshore’s industry leading Fast4Ward program that incorporates the Company’s 7^th new build, multi-purpose floater hull combined with several standardized topsides modules. The FPSO will be designed to produce 250,000 barrels of oil per day, will have associated gas treatment capacity of 540 million cubic feet per day and water injection capacity of 300,000 barrels per day. The FPSO will be spread moored in water depth of about 1,630 meters and will be able to store around 2 million barrels of crude oil.

SBM Offshore remains committed to working with Guyanese companies and will continue to expand these activities. More Guyanese engineers will be recruited and employed as part of the FPSO Jaguar project team.

 

Corporate Profile

SBM Offshore designs, builds, installs and operates offshore floating facilities for the offshore energy industry. As a leading technology provider, we put our marine expertise at the service of a responsible energy transition by reducing emissions from fossil fuel production, while developing cleaner solutions for alternative energy sources.

More than 7,400 SBMers worldwide are committed to sharing their experience to deliver safe, sustainable and affordable energy from the oceans for generations to come.

For further information, please visit our website at www.sbmoffshore.com.

Financial Calendar		Date	Year
First Quarter 2024 Trading Update		May 8	2024
Half Year 2024 Earnings		August 8	2024
Third Quarter 2024 Trading Update		November 14	2024
Full Year 2024 Earnings		February 20	2025
Annual General Meeting		April 9	2025

For further information, please contact: