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    SBM Offshore raises financing for Guyana FPSO


The Dutch upstream company has completed financing for an FPSO.

by: Daniel Graeber

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Natural Gas & LNG News, Americas, Corporate, Exploration & Production, News By Country, Latin America

SBM Offshore raises financing for Guyana FPSO

Dutch upstream services company SBM Offshore said on June 25 it had completed financing for a floating production storage and offloading (FPSO) unit tapped for development off the coast of Guyana.

SBM said it had finished raising the necessary $1.05bn needed for the unit, named Prosperity, after securing a loan from a consortium of 11 international banks. The loan has a two-year tenor post completion, and has a variable interest rate plus 1.6%, SBM said.

Prosperity can produce as much as 220,000 barrels of oil/day and has an associated gas treatment capacity of 400mn ft3/d. It can be moored in deep waters and store as much as 2mn barrels of crude oil.

SBM said Prosperity replicates the design of other floating units at the Liza development offshore Guyana. The new FPSO project is tapped for the Payara development in the resource-rich Stabroek block off Guyana.

Guyana and neighbouring countries are emerging as major oil and natural gas producers in South America. Suriname is on a push to develop its conventional offshore plays, and alongside neighbouring Guyana, has become a key area of interest for TotalEnergies and other leading international explorers like ExxonMobil.