Dutch group SBM Offshore announced it has completed the project financing of FPSO Liza Unity by a consortium of nine international banks, for a total of US$1.14 billion. The company expects to draw the loan in full, phased over the construction period of the FPSO.
The financing will become non-recourse once the FPSO is completed and the pre-completion guarantees have been released.
…the company informed.
The project loan has a tenor of two years post completion, in line with the duration of the charter, and carries a variable interest cost of LIBOR plus 1.50%.
The Liza Unity FPSO design is based on SBM Offshore’s Fast4Ward program, featuring a new build, multi-purpose hull combined with several standardized topsides modules.
The FPSO will be designed to produce 220,000 barrels of oil per day and will have an associated gas treatment capacity of 400 million cubic feet per day and water injection capacity of 250,000 barrels per day.
The FPSO will be spread moored in water depth of about 1,600 meters and will be able to store around 2 million barrels of crude oil.
The Liza field is located about 200 kilometers offshore Guyana in the Stabroek block.
ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest in the Stabroek Block.
Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25% interest.
