Seatrium, the Singaporean marine engineering group, has signed a contract worth over SGD 200 million (USD 156.5 million) from SBM Offshore, the Dutch floating specialist, for the integration of an FPSO (Floating Production Storage and Offloading) vessel designated for South America.
Contract Details
The contract includes the construction of support structures for anchors and pipelines, a flare tower, and support structures above the deck, along with modifications and dry-docking activities for the vessel. Seatrium will also be responsible for the integration of the topside modules, mechanical completion, some pre-commissioning activities, and support for commissioning and marine testing.
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Project Timeline
Work on this project is set to commence in the fourth quarter of 2026, with a target completion date set for 2029. The identity of the FPSO vessel and the offshore development to which it will ultimately be transferred has not yet been disclosed.
This new award is based on a series of FPSO construction and integration projects that the Singaporean group has undertaken for SBM Offshore, particularly in the Guyana Sea. In May 2024, Seatrium signed another contract for the construction and integration of topside modules for the Jaguar FPSO project, which is related to ExxonMobil's Whiptail development in the Stabroek block. This contract marks the twenty-ninth major project for Seatrium with SBM Offshore, following previous work on the Liza Destiny, Liza Unity, Prosperity, and One Guyana FPSOs.
Jaguar, designed to produce 250,000 barrels of oil per day, is expected to commence oil production from Whiptail in 2027. SBM Offshore has also expanded its project portfolio in South America this year, signing contracts for Petrobras' SEAP I and SEAP II FPSOs off the coast of Brazil, along with preliminary engineering work for ExxonMobil's Longtail development in Guyana.
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