First Lady in Singapore to dedicate first oil production vessel

First Lady Sandra Granger is in Singapore for the ceremonial launch of the Liza Destiny, which will be the first Floating Production Storage and Offloading (FPSO) vessel to be used in the first phase of oil production offshore Guyana.

The ceremony is usually held before a vessel sets sail and the First Lady was chosen to be the chief guest to give the solemn blessing for the ship’s safe voyage to Guyana and its operations here.

In less than a year, ExxonMobil will begin bringing up an estimated 120, 000 barrels of oil per day in the so-called Liza Phase 1 development process.

The vessel is expected to arrive in Guyana in September and will be installed in the giant Stabroek block where ExxonMobil has so far made 13 oil discoveries.

The vessel was designed and built by the Dutch firm SBM offshore. With the vessel, there will be four undersea drill centers with 17 production wells.

Construction of the Liza Destiny and subsea equipment was farmed out for construction in more than a dozen countries.

SBM offshore in May this year announced that it was also awarded contracts for the next phase of the Liza project in Guyana.

Under these contracts, SBM Offshore will construct, install and thereafter lease and operate for up to two years the Liza Unity FPSO.

The new FPSO will be designed to produce 220,000 barrels of oil per day, will have associated gas treatment capacity of 400 million cubic feet per day and water injection capacity of 250,000 barrels per day.

Exxon’s local subsidiary is the operator of the Stabroek Block and holds a 45 percent interest while Hess Guyana Exploration Ltd. holds a 30 percent interest, and CNOOC Petroleum Guyana Limited holds a 25 percent interest.

The block is 6.6 million acres in size.

Liza Phase 1 is expected to generate over US$7 billion in royalty and profit oil revenues for Guyana during the life of the project.