Construction of FPSO Jaguar, Guyana’s sixth offshore production vessel, has inched closer to completion, with operator SBM Offshore confirming that the vessel remains on track to deliver first oil in 2027.
As of the first week of August, FPSO Jaguar is under construction and in the pre-installation phase for ExxonMobil’s Whiptail development in Guyana’s Stabroek Block. In July 2026, offshore subsea installation for the Whiptail field had already started, specifically for the SURF system, ahead of Jaguar’s arrival and offshore installation, so the project is moving toward hook-up, commissioning, and first oil targeted for 2027.
The milestone comes as Guyana’s offshore oil sector prepares for a major expansion, with two new FPSOs — Errea Wittu and Jaguar — expected to come online by 2027, potentially adding about 500,000 barrels per day (bpd) of new production capacity, subject to commissioning schedules.
Guyana currently produces about 900,000 barrels per day from four producing FPSOs operating in the Stabroek Block: Liza Destiny, Liza Unity, Prosperity and ONE GUYANA.
The fifth FPSO, Errea Wittu, being built for ExxonMobil Guyana’s Uaru development, is also expected to arrive offshore Guyana in the coming weeks and begin start-up activities this year ahead of its planned first oil in 2027.
The sixth FPSO, Jaguar, is being developed for the Whiptail project
In its half-year 2026 earnings update, Dutch floater specialist SBM Offshore reported that FPSO Jaguar is now more than 50% complete but less than 75% complete, with construction progressing according to schedule.
“The topsides fabrication is nearing completion and all process modules have been lifted onboard. Integration and commissioning activities are progressing as per plan,” SBM said.
When operational, FPSO Jaguar will have the capacity to produce up to 250,000 barrels of oil per day, making it one of the largest production vessels deployed offshore Guyana.
The vessel is being built for ExxonMobil Guyana’s Whiptail development, one of the newest approved projects in the Stabroek Block.
Jaguar will be developed under SBM Offshore’s Sale and Operate model, unlike several earlier Guyana FPSOs that operate under lease structures.
Under this arrangement, ownership of the FPSO will transfer to ExxonMobil Guyana following construction, while SBM is expected to continue providing operations and maintenance services.
SBM Offshore identified Jaguar as one of three major projects currently under construction globally, alongside FPSO GranMorgu in Suriname and FSO Chalchi in Mexico.
Chief Executive Officer Øivind Tangen said the company’s ability to execute multiple large-scale projects simultaneously demonstrates the strength of its delivery model.
“Executing multiple large-scale projects simultaneously demonstrates the strength of our execution model,” Tangen said.
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