ExxonMobil sanctions Hammerhead development offshore Guyana

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ExxonMobil sanctions Hammerhead development offshore Guyana

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ExxonMobil has taken final investment decision for the Hammerhead development in Stabroek block offshore Guyana after having received required regulatory approvals.

The project will include 18 production and injection wells and utilize a floating production storage and offloading (FPSO) vessel with a capacity to produce about 150,000 b/d of oil.

Hammerhead, the operator’s seventh project on the block, is expected to cost about $6.8 billion to develop, bringing total funds committed for seven approved projects to more than $60 billion, the company said. First oil from Hammerhead is anticipated in 2029.

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ExxonMobil produces about 650,000 b/d of oil from Stabroek block. With the recent successful startup of ONE GUYANA, a fourth FPSO, the company anticipates growing production to more than 900,000 bo/d by yearend. Construction is under way for the fifth and sixth approved projects, Uaru and Whiptail, with Uaru anticipated to start up in 2026 and Whiptail in 2027.

ExxonMobil Guyana Ltd. is operator of the block with 45% interest. Partners are Chevron-owned Hess Guyana Exploration Ltd. (30%) and CNOOC Petroleum Guyana Ltd. (25%).

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ExxonMobil sanctions Hammerhead development offshore Guyana

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Stay Ahead, Stay ONMINE

ExxonMobil sanctions Hammerhead development offshore Guyana

Stay Ahead

Explore More Insights

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