Page 10 - LatAmOil Week 09 2023

LatAmOil GUYANA LatAmOil

(He did not comment on Guyanese Vice Pres- of $20mn each.
ident Bharrat Jagdeo’s recent statements about The signature bonus is part of the Guyanese
the strong expressions of interest from Indian government’s new fiscal regime for produc-
companies.) tion-sharing agreements (PSAs). Under the
The blocks included in the bidding round new rules, signatories to PSAs must agree to pay
range from 1,000-3,000 square km in area, with a 10% royalty tax and a 10% corporate tax and
11 of them falling in shallow-water areas and accept a 65% cost recovery ceiling and a 50:50
the remaining three within the ultra-deepwater profit oil-sharing arrangement between the gov-
region formerly known as Area C. Winners of ernment and contractor.
the auctions for the shallow-water blocks will Guyana’s government hopes to sign contracts
have to pay minimum signature bonuses of for the offshore blocks in May 2023, after evalu-
$10mn each, while top bidders for the deepwa- ation of the bids and negotiations with the win-
ter blocks will pay minimum signature bonuses ners of the auctions. ™

SBM Offshore confident of ability to deliver

FPSOs to Guyana and Brazil on schedule

SBM Offshore, a marine services contractor Offshore for the national oil company (NOC)
based in the Netherlands, indicated last week Petrobras, is on track to reach the stage of first oil
that it still expects to deliver floating produc- later this year, and integration and commission-
tion, storage and offloading (FPSO) vessels for ing activities are currently in progress. Moreo-
a number of South American projects on time ver, the Fast4Ward MPF hull built for Petrobras’
despite disruptions to its schedule. FPSO Almirante Tamandaré is nearing comple-
In an update on its newbuild activities, SBM tion, and topside fabrication is moving ahead as
Offshore affirmed its commitments to timely planned. The vessel is anticipated to start oper-
deliveries and said it had put safeguards in place ations in 2024.
to mitigate any potential impact on project Additionally, SBM Offshore is also making
executions. progress on the FPSO Alexandre de Gusmão for
Even though the coronavirus (COVID-19) Petrobras, with fabrication works on the topside
pandemic has affected activity at its yards in modules still continuing. The vessel is expected
China and the Russian war on Ukraine is hav- to start producing oil in 2025.
ing a broader effect on the oil industry at large, Meanwhile in Guyana, the Prosperity FPSO,
the company said in a statement that it remained which will support the Payara development pro-
confident. ject at the offshore Stabroek block, has departed
In Brazil, the FPSO Sepetiba, built by SBM Singapore.

The Liza Destiny is the first SBM Offshore-made FPSO installed offshore Guyanav (Photo: SBM Offshore)

P10 www. NEWSBASE .com Week 09 01•March•2023