Yesterday, (26,55 EUR, 0,26%) announced a final investment decision in the Stones project in the Gulf of Mexico, which involves the deepest production facility on earth at a depth of circa 2,900 meters. The first phase of development is expected to have annual peak production of 50,000 barrels of oil per day, from more than 250 million barrels of recoverable resources. The Stones field is said to have significant upside potential and is estimated to contain over 2 billion barrels of oil. The field is located circa 320km southwest of New Orleans.
An FPSO design has been chosen to tap these liquids:
An FPSO design was selected to develop and produce this ultra-deepwater discovery, thus addressing the relative lack of infrastructure, seabed complexity, and unique reservoir properties. The FPSO will have a turret with a disconnectable buoy which allows it to disconnect from the well system and sail to safe areas in the event of adverse weather conditions.
SBM stands a good chance to win the FPSO contract:
SBM and have a framework agreement for the supply of mid-sized FPSOs. Furthermore, we believe SBM has been doing pre-engineering work for this particular project. Hence, we believe they stand a very good chance to win the contract for the sale or lease (whatever decides) of this particular FPSO.
No impact on estimates. Positive for sentiment.