sixth project<\/a>\u00a0located in the Stabroek block offshore Guyana, at a water depth of approximately 2,000 meters. ExxonMobil is working with the government of Guyana to secure regulatory approvals for this\u00a0project. Based on the new contract award, the Italian giant\u2019s scope of work for the Whiptail project covers the design, fabrication, and installation of subsea structures, risers, flowlines, and umbilicals for a large subsea production facility.<\/p>\nFurthermore, Saipem will perform operations using its vessels\u00a0FDS2<\/strong>,\u00a0Constellation<\/strong>, and\u00a0Castorone<\/strong>. The company\u2019s Guyana Offshore Construction Facility located at the Port of Georgetown, will be deployed as a key fabrication site for the firm\u2019s execution model, enhancing a sustainable steady growth in the country. This contract win will allow the Italian player to begin some limited activities, such as detailed engineering, and procurement, subject to the necessary government approvals, the project sanction by ExxonMobil Guyana Limited and its Stabroek block coventurers, and an authorization to proceed with the final phase.<\/p>\nThe Whiptail project will enable the development of the\u00a0Whiptail<\/strong>,\u00a0Pinktail<\/strong>, and\u00a0Tilapia<\/strong>\u00a0fields, along with potential additional resources, if determined to be feasible and economically viable. The current development plans for the project entail drilling via drillships to produce oil from approximately 40 \u2013 65 production and injection wells. The project is expected to come online between 4Q 2027 and 2Q 2028 with an expected field life of at least twenty years.<\/p>\nRecently, SBM Offshore got its hands on\u00a0a contract\u00a0to perform front end engineering and design (FEED) for an FPSO vessel, which is destined to work on ExxonMobil\u2019s sixth deepwater oil development project on the Stabroek block. This will be the fifth FPSO built by the Dutch player for operations in Guyana.<\/p>\n
Based on ExxonMobil\u2019s plans, six FPSOs with a gross production capacity of more than 1.2 million barrels of oil per day are expected to be online on the Stabroek block by the end of 2027, with the potential for up to ten FPSOs to develop the estimated gross discovered recoverable resources of more than 11 billion barrels of oil equivalent.<\/p>\n
The Stabroek block covers 6.6 million acres (26,800 square kilometers) and is operated by ExxonMobil\u2019s affiliate Esso Exploration and Production Guyana with a 45% interest. The company\u2019s partners in the block are Hess Guyana Exploration (30%) and CNOOC Petroleum Guyana (25%).<\/p>\n
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