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FPSO ONE GUYANA producing and on hire
Globenewswire· 2025-08-08 16:01
Core Viewpoint - SBM Offshore has successfully commenced production of FPSO ONE GUYANA, marking a significant milestone in its operations in Guyana and enhancing its capacity in the region [1][4]. Group 1: Production and Capacity - FPSO ONE GUYANA is designed to produce an annual average of 250,000 barrels of oil per day, with gas treatment capacity of 450 million cubic feet per day and water injection capacity of 300,000 barrels per day [2]. - The FPSO has a storage capacity of 2 million barrels of crude oil and is spread moored in approximately 1,800 meters of water depth [2]. - The introduction of FPSO ONE GUYANA increases the total installed capacity of SBM Offshore's Fast4Ward FPSOs by 655,000 barrels of oil per day in 2025 [4]. Group 2: Project and Stakeholders - FPSO ONE GUYANA is part of the Yellowtail development, which is the fourth development within the Stabroek block, located about 200 kilometers offshore Guyana [3]. - ExxonMobil Guyana Limited operates the Stabroek block and holds a 45 percent interest, while Hess Guyana Exploration Ltd and CNOOC Petroleum Guyana Limited hold 30 percent and 25 percent interests, respectively [3]. Group 3: Corporate Overview - SBM Offshore is recognized as a leader in deepwater ocean-infrastructure, focusing on the design, construction, installation, and operation of offshore floating facilities [5]. - The company emphasizes its commitment to delivering cleaner and more efficient energy production while balancing ocean protection with progress [6].
SBM Offshore First Quarter 2025 Trading Update
Globenewswire· 2025-05-15 05:00
Core Insights - The company reported strong first quarter results, with a year-to-date Directional revenue of US$1,103 million, reflecting a 27% increase compared to the same period last year [8][9]. - The Directional backlog stands at US$35.1 billion, supported by firm contracts and inflation protection, with an expected cash generation of US$9.5 billion [3][4]. - A cash dividend of EUR150 million was paid, and a share buyback program of EUR141 million is underway, with a minimum of US$1.7 billion cash return to shareholders expected by 2030 [3][19][20]. Financial Overview - Directional revenue increased to US$1,103 million, up 27% from US$871 million in 1Q 2024, driven primarily by the Turnkey segment [9][10]. - Directional Turnkey revenue reached US$627 million, a 98% increase from US$316 million in the same period last year [10]. - Directional Lease and Operate revenue was US$476 million, down from US$554 million, attributed to the sale of FPSOs Prosperity and Liza Destiny [11]. Project and Operational Update - The company is on track to deliver three major vessels in 2025, with FPSO Almirante Tamandaré achieving first oil in February 2025, and FPSOs Alexandre de Gusmão and ONE GUYANA expected to follow [4][12]. - The Fast4Ward program has successfully ordered ten MPF hulls, with four currently in operation and another four delivered for ongoing projects [15]. - Fleet uptime for the year-to-date was reported at 99.5%, consistent with historical performance [15]. Strategic Initiatives - A strategic collaboration agreement with Microsoft was signed to develop carbon-free floating power solutions, focusing on deploying floating gas-to-power solutions with integrated carbon capture and storage [6][17]. - The company aims to introduce a near zero emission FPSO by the end of 2025, having received "Approval in Principle" from the American Bureau of Shipping for its design [18]. Guidance - The company maintains its 2025 Directional revenue guidance at above US$4.9 billion, with expectations of over US$2.2 billion from the Lease and Operate segment and around US$2.7 billion from the Turnkey segment [21]. - Directional EBITDA guidance for 2025 is also maintained at approximately US$1.55 billion [21].