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ABB and MODEC’s Fourteenth Collaboration Supports Growing South American FPSO Market - Offshore Frontier Solution Pte Ltd has awarded ABB the contract to deliver a complete electrical system and associated digital solutions on an ExxonMobil floating production storage and offloading (FPSO) vessel for the South American Uaru oil field
ABB and MODEC’s Fourteenth Collaboration Supports Growing South American FPSO Market

 

PRZOOM - /newswire/ - Zurich, Switzerland, 2024/01/19 - Offshore Frontier Solution Pte Ltd has awarded ABB the contract to deliver a complete electrical system and associated digital solutions on an ExxonMobil floating production storage and offloading (FPSO) vessel for the South American Uaru oil field. ABBN: SIX Swiss Ex

   
 
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• ABB will deliver the topside and hull electrical systems to ExxonMobil’s new floating production storage and offloading (FPSO) vessel in the Uaru oil field;
• ABB will also deploy a power management system and condition monitoring digital solutions to optimize the energy efficiency of operations;
• The order marks the fourteenth collaboration between ABB and engineering procurement and construction company MODEC on FPSO developments across South America.

Offshore Frontier Solution Pte Ltd in Singapore a joint venture between MODEC (modec.com) and Toyo Engineering Corporation (toyo-eng.com) has awarded ABB the contract to deliver a complete electrical system and associated digital solutions on an ExxonMobil floating production storage and offloading (FPSO) vessel for the South American Uaru oil field.

The offshore FPSO, named Errea Wittu, will be operated approximately 200 kilometers off the coast of Guyana. It is ExxonMobil’s fifth FPSO in Guyana and will combine the development of the Snoek, Mako and Uaru resources in the Stabroek block. Expected to be operational by 2026, with an initial production capacity of 250,000 barrels of oil per day, the vessel will also have an associated gas treatment capacity of 540 million standard cubic feet per day.

ABB will deliver a topside and hull electrical system to the vessel through a pre-built ABB eHouse modular substation, which reduces risk exposure and costs by commissioning, installing and testing all electrical systems at the shipyard prior to deployment offshore, and enables faster speed to market. In addition, the company will supply power management solutions which will serve to optimize energy efficiency and asset availability of all electrical equipment supplied.

The order, booked in Q2, 2023, marks the fourteenth collaboration between ABB and engineering procurement and construction company MODEC on FPSO developments across South America.

The global FPSO market is estimated to reach $20 billion in 2027, according to a report by The Insight Partners1. Guyana is second only to Brazil in the number of new FPSO projects set to commence operations and, according to Rystad Energy, is expected to produce 1.7 million barrels of oil per day by 2035 which would make it the fourth largest offshore oil producer in the world2.

“The FPSO market in South America is growing exponentially driven by the fact that floating platforms are a more cost-efficient, quicker, mobile, and sustainable solution to traditional rigs,” said Brandon Spencer, President of ABB Energy Industries. “Guyana is at the forefront of this growth, and we are thrilled to contribute our technology to help bring this fifth development for ExxonMobil (exxonmobil.com) in Guyana to market quickly and efficiently. The country is already seeing the benefits to its GDP, with its government announcing significant investment into advancing its healthcare sector, education and critical infrastructure3 as a result.”

ABB’s Energy Transition Equation report for the offshore oil and gas sector delivers insights into how FPSO operators can reduce carbon emissions by up to 320,000 tons per site each year through the application of electrification, automation and digital technologies, which enable a move to minimally crewed operations4.

ABB’s Process Automation business automates, electrifies and digitalizes industrial operations that address a wide range of essential needs from supplying energy, water and materials, to producing goods and transporting them to market. With its ~20,000 employees, leading technology and service expertise, ABB Process Automation helps customers in process, hybrid and maritime industries improve performance and safety of operations, enabling a more sustainable and resource-efficient future.

ABB (abb.com) is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company’s solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated. Building on more than 140 years of excellence, ABB’s ~105,000 employees are committed to driving innovations that accelerate industrial transformation.

1. Global FPSO Market Report Size, Trends & Growth Opportunity, The Insight Partners, November 2022
2. Guyana enters the big league as O&G revenues grow (rystadenergy.com)
3. Budget at a Glance 2023 1 (finance.gov.gy)
4. new.abb.com/process-automation/energy-industries/energy-transition/offshore-oil-and-gas

 
 
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Agency / Source: ABB Robotics / ABB Ltd

 
 

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ABB and MODEC’s Fourteenth Collaboration Supports Growing South American FPSO Market

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