Dutch floater expert SBM Offshore has completed the project financing of FPSO Jaguar for a total of $1.5bn. The project financing was fully secured by a consortium of 16 international financial institutions. The company expects to draw the loan phased over the construction period of the FPSO. The project loan is in line with the duration of the construction phase. The FPSO Jaguar’s design is based on SBM Offshore’s Fast4Ward program and is the company’s seventh such newbuild. The FPSO is designed to produce 250,000 bopd, and will have an associated gas treatment capacity of 540 mcfpd, and water injection capacity of 300,000 bpd. The FPSO will be spread-moored in a water depth of about 1,630 meters and will be able to store around 2m barrels of crude oil. The project is part of the Whiptail development, which is the sixth development within the Stabroek block, some 200 km off Guyana. ExxonMobil is the operator of the project and holds a 45% interest in the block while Hess and CNOOC hold 30% and 25% respectively. This month has been quite successful for SBM Offshore. It first sold the FPSO Prosperity to ExxonMobil for a total cash consideration of around $1.23bn and it then won an FPSO order for the GranMorgu field development project in Block 58 off Suriname from TotalEnergies. After buying the FPSO Prosperity, ExxonMobil also announced that it would be exercising its right to purchase FPSO Liza Destiny from SBM Offshore before the end of 2024. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsGuyana Netherlands