Page 11 - LatAmOil Week 15 2022

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Yellowtail will be the fourth development project at Stabroek (Image: ExxonMobil)

He added: “These awards follow our successful off-loading (FPSO) unit that will support devel-
execution of multiple deepwater projects glob- opment work at the field. ExxonMobil and its
ally, demonstrating the strength of our coating partners have already contracted SBM Offshore
performance and confirming our customers’ of the Netherlands to build the vessel, which will
confidence in Shawcor to deliver quality coat- have a capacity of 250,000 barrels per day (bpd).
ing services.” Equity in the Stabroek block is divided
The Canadian company’s announcement between affiliates of ExxonMobil, the operator,
came shortly after the US super-major Exx- with 45%; Hess, with 30%; and China National
onMobil, which is leading exploration and Offshore Operating Corp. (CNOOC), with
development work at Stabroek through a Guy- 25%. The partners made their first oil find at
ana-based subsidiary, made a final investment the Liza field in 2015 and have made more than
decision (FID) on the Yellowtail project. The 20 commercially viable discoveries since then.
cost of developing this section of the block, They launched their first development project,
which is believed to hold around 925mn barrels Liza-1, in December 2019 and then brought the
of crude oil, may reach $10bn. second, Liza-2, on stream in February of this
A substantial portion of this sum will be year. The third development project, Payara, is
used to cover the cost of building the One Guy- slated to begin production in 2024, and the fifth,
ana, the new floating production, storage and Uaru, may follow suit in 2026. ™

BRAZIL
Alagoas state administration hopes to

attract industrial investors with cheap gas

THE Brazilian state of Alagoas has been expand- According to the state’s Economy Secretary
ing its efforts to attract industrial investors seek- George Santoro, Alagoas is aiming to expand
ing access to less expensive natural gas supplies, its gas distribution grid and ultimately shift its
according to a report from Argus Media. This focus from LPG service in vessels to residential
initiative is primarily being fuelled by changes gas consumption. Taking this approach will
in state laws, as well as the divestment process of allow Algas, the local gas distributor, to keep rev-
Brazil’s national oil company (NOC) Petrobras, enues stable as large industrial consumers shift
which has created opportunities for more oil from unilateral purchases of LPG in cylinders
and gas companies to invest in upstream pro- to contractual agreements with upstream sup-
jects in the region. pliers, he told Argus Media last week.

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