SBM Offshore which is based in the Netherlands was pleased to announce today that it has completed the project financing for the Prosperity Floating Production Storage and Offloading (FPSO) vessel totaling US$1.05 billion.
SBM noted that the project financing was secured by a consortium of 11 international banks while adding that it expects to draw the loan in full. The Dutch manufacturer said the financing will become non-recourse once the FPSO is completed and the pre-completion guarantee has been released.
It was further noted by SBM that the Prosperity FPSO will utilize a design that largely replicates the design of the Liza Unity FPSO. As such, the design is based on SBM Offshore’s industry-leading Fast4Ward® programme that incorporates the Company’s new build, multi-purpose hull combined with several standardized topsides modules.
Guyana Standard understands that the FPSO will be designed to produce 220,000 barrels of oil per day, will have associated gas treatment capacity of 400 million cubic feet per day, and a water injection capacity of 250,000 barrels per day. The FPSO will also be spread moored in water depth of about 1,900 meters and will be able to store around 2 million barrels of crude oil.
The construction of Prosperity is part of the Payara development which is the third development within the Stabroek block, located 200 kilometers offshore Guyana. Esso Exploration and Production Guyana Limited, an affiliate of Exxon Mobil Corporation, 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.
I note that not one single company is from Mudda Africa, the second largest continent in the world, and I think it is racism.