ABB wins work on Guyana-bound FPSO

GEORGETOWN, January 22, 2024 – ABB has signed a contract with Japanese engineering entity MODEC to deliver topside and hull electric systems for an FPSO bound for the Uaru oil field in Guyana, the Swedish-Swiss technology provider announced on Thursday.

Under the deal, ABB will provide a power management system and a digital monitoring system.

The order was booked in Q2 2023 and marks the 14th collaboration between ABB and MODEC on FPSO projects in South America.

“The FPSO market in South America is growing exponentially driven by the fact that floating platforms are a more cost-efficient, quicker, mobile, and sustainable solution to traditional rigs,” said Brandon Spencer, president of ABB Energy Industries.

“Guyana is at the forefront of this growth, and we are thrilled to contribute our technology to help bring this fifth development for ExxonMobil in Guyana to market quickly and efficiently.”

MODEC signed an EPCI contract to build the FPSO for ExxonMobil’s offshore field in May 2023.

The Errea Wittu FPSO has the capacity to store 2 million barrels of oil, produce around 250,000 bopd, have gas treatment capacity of 15.3 mcm (540 mcf) per day and water injection capacity of 350,000 bpd.

The unit will produce from the Snoek, Mako and Uaru plays on the Stabroek block and is expected to be commissioned by 2026.

The move follows the operating consortium reaching the FID on the Uaru project in April 2023.

Two producing FLNG vessels are currently stationed at the concession, the Liza Destiny and the Liza Unity.

Net production from the two assets was 112,000 bopd in Q3 2023.

Two additional FLNG vessels are to begin production at the Payara and Yellowtail fields on the block, the Prosperity and One Guyana, respectively.

The Prosperity FLNG vessel has a planned capacity of 220,000 bopd. The asset arrived on the Stabroek concession in April 2023.

The One Guyana FLNG vessel will have a production capacity of 250,000 bopd, with first production anticipated in 2025.

ExxonMobil aims to have six producing FPSOs in Guyana by the end of 2027.

ExxonMobil operates the Stabroek block with a 45% stake, while Hess Corporation holds a 30% stake and China National Offshore Oil Corporation holds the remaining 25% stake.

According to energy consultant Rystad Energy, Guyana is expected to produce 1.7 million bopd by 2035, making it the world’s fourth largest offshore oil producer.

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