The FPSO for the offshore Guyanese project in the Stabroek Block, which will be designed and built based on MODEC’s M350 new-build design, will have a production capacity of 250,000 barrels of oil per day and a storage capacity of nearly two million barrels of crude oil
The FPSO for the Uaru oil project will be based on MODEC’s M350 new-build design. (Credit: MODEC, Inc.)
MODEC has won a contract to undertake front end engineering and design (FEED) for a floating production, storage, and offloading vessel (FPSO) to be deployed at ExxonMobil’s Uaru development project, offshore Guyana.
The awarding of the FEED contract is related to the initial funding by Esso Exploration and Production Guyana (EEPGL), a subsidiary of ExxonMobil, to start FEED activities pertaining to the design of the FPSO and to secure the second M350TM hull for FPSO service.
MODEC president and CEO Takeshi Kanamori said: “We are extremely honored and proud to be selected to provide the FEED services for an FPSO for the UARU project.
“We are equally proud of our robust track record of successful project deliveries in the South America region, and we look forward to cooperating closely with the client and its partners to make this project a success.”
The Japanese shipbuilding company is expected to build the FPSO and install it at the field as well as operate it for an initial period of 10 years, with possible options for extension. This is subject to completion of the FEED, government approvals in Guyana of the field’s development plan, project sanction by ExxonMobil, including final investment decision, and release of the second phase (EPCI) of work by EEPGL.
According to MODEC, the FPSO will be designed and built based on its M350 new-build design.
The Japanese company said that Uaru will be the second M350 hull used for the service of FPSO. The vessel will be designed for producing 250,000 barrels of oil per day.
The FPSO will have an associated gas treatment capacity of 540 million cubic feet per day and 350,000 barrels per day of water injection capacity. It will have a storage capacity of nearly two million barrels of crude oil.
MODEC said that the FPSO for the Uaru development project is expected to be installed in a water depth of nearly 2,000m with the help of a SOFEC Spread Mooring System.
The Uaru project is located in the Stabroek Block.
In April 2021, ExxonMobil made an oil discovery through the drilling of the Uaru-2 well. Prior to this, in January 2020, the company made another oil discovery through the drilling of the Uaru-1 well, located about 11kms from Uaru-2.