HOUSTON, November 18, 2021 / PRNewswire / – McDermott International and SBM Offshore have formed a special purpose company to perform end-to-end engineering and design (FEED) for a floating production, storage and offloading (FPSO) vessel as part of contracts for the Yellowtail development project.
Through the special purpose company, McDermott and SBM Offshore will design and build the FPSO project, which will follow FEED and is subject to government approvals in Guyana of the development plan, the sanction of the project, including the final investment decision by ExxonMobil and Esso Exploration and Production Guyana Limited (EEPGL) the release of the second phase of the works.
The FPSO will be the fourth to be deployed in Guyana and will be designed to produce 250,000 barrels of oil per day, will have an associated gas processing capacity of 450 million cubic feet per day and a water injection capacity of 300,000 barrels per day. The FPSO will be moored at a water depth of approximately 5,900 feet (1,800 meters) and will be able to store approximately two million barrels of crude oil.
“McDermott brings unparalleled project execution, integrated engineering and modularization, and industry leadership to this important project,” said Samik Mukherjee, McDermott Executive Vice President and Chief Operating Officer.
“We will leverage our global engineering centers and access modularization design and manufacturing expertise from our Qingdao McDermott Wuchuan (QMW) fabrication yard in China. This, and our vision shared with SBM Offshore for integrated solutions, optimized efficiency and guaranteed delivery, will enable success, ”said Tareq Kawash, Mcdermott Senior Vice President, Europe, Middle East, Africa.
McDermott and SBM Offshore will provide project management, basic design, procurement, engineering, integration and commissioning services. SBM Offshore will manage the transportation and installation, then lease the FPSO and operate it for a period of up to two years.
McDermott is a leading fully integrated provider of engineering and construction solutions for the energy industry. Our customers trust our technology-driven approach, designed to responsibly harness and transform the world’s energy resources into the products the world needs. From concept to commissioning, McDermott’s expertise and innovative capabilities are advancing the next generation of global energy infrastructure, delivering a brighter, more sustainable future for us all. Operating in more than 54 countries, McDermott’s local and globally integrated resources include more than 30,000 employees, a diverse fleet of specialized marine construction vessels, and manufacturing facilities around the world. To learn more, visit www.mcdermott.com.
The main activities of the Company are the design, supply, installation, operation and life extension of floating production solutions for the offshore energy industry over the entire life cycle. The Company is the market leader in leased floating production systems, with several units currently in operation. From December 31, 2020, the company employs approximately 4,570 people worldwide, located in offices in our key markets, onshore operational bases and the offshore vessel fleet. SBM Offshore NV is a listed holding company headquartered in Amsterdam, netherlands. For more information, please visit the website www.sbmoffshore.com.
McDermott cautions that statements in this communication that are forward-looking and provide information other than historical information involve risks, contingencies and uncertainties. These forward-looking statements include, among other things, statements about the expected scope and execution of the project discussed in this press release. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot guarantee that these expectations will prove to be correct. These statements are made using various underlying assumptions and are subject to many risks, contingencies and uncertainties, including, but not limited to: adverse changes in the markets in which we operate or in the credit or capital markets; our inability to successfully execute pending contracts; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other commercial counterparties; changes in industry standards; actions of McDermott’s lenders, other creditors, customers and other business counterparties; and adverse results of legal or other dispute resolution proceedings. If one or more of these risks materialize, or if the underlying assumptions turn out to be inaccurate, actual results may differ materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott management as of the date hereof. Except to the extent required by applicable law, McDermott assumes no obligation to update or revise any forward-looking statement.
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SOURCE McDermott International, Ltd