With all of the headlines and long term commitment to Guyana which dominate the headlines, Management rarely mentions that we have and will be outsourcing all Guyana operations to SBM and perhaps one more company.
With Guyana being the new flagship, why would we not even have a plan to operate in house?
It’s because management doesn’t want to. Folks this is our future like it or not, outsourcing and cheap labor.
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It’s on in Annandale, if you’re RE prepare……..
Are these companies staffed by the home country? Deals are made, “the big guys” still get paid right?
I can’t see XOM purchasing the current FPSOs nor any future ones. The early plan was for us to take over operations of Destiny 18 months after start up, you see how that worked out.
It’s pretty simple, SBM can do it cheaper.
Shell did the same with Stones FPSO (turritela). Shell purchased the FPSO and started to operate it back in 2018
As Risk avoidance is to lease until enough run time that EM is sure the assets will not be nationalized. After risk determined low, purchase those leased assets.
I am by no means advocating for EM, but will respond to this since it is misleading. The FPSOs are on a lease-operate model, meaning they are SBM’s asset until purchased by EM (and SBM’s way of protecting its interest is to require that it operates/maintains/etc its asset). EM needs to buy each FPSO (vs paying a daily rate to “lease”) before they can operate it. EM Ops is maturing plans to transition operations after purchasing.