ExxonMobil has awarded major contracts to MODEC, Saipem and TechnipFMC to develop its Hammerhead oil project in Guyana’s Stabroek Block, following its final investment decision to proceed with the US$6.8 billion project earlier this month.
MODEC will deliver the floating production, storage and offloading (FPSO) vessel under a full engineering, procurement, construction and installation (EPCI) contract. The unit is designed to produce about 150,000 barrels of oil per day (bpd) and up to 95 million cubic feet of gas per day (cf/d) and will be MODEC’s second FPSO for Exxon in Guyana, after Uaru.
Saipem said it received authorization to proceed with a roughly US$500 million contract covering subsea, umbilical, riser and flowline structures, as well as Hammerhead’s gas export system. Offshore installation is scheduled to begin in 2028, with logistics to be handled through the Vreed-en-Hoop Shorebase.
TechnipFMC announced a “substantial” subsea contract, valued between US$250 million and US$500 million, for production systems including trees, manifolds and associated controls. The award is the company’s seventh greenfield project for Exxon in Guyana since 2017.
Exxon’s Hammerhead development is expected to start production in 2029, adding to the company’s string of large offshore projects that have already lifted Guyana’s oil production capacity to more than 900,000 bpd. Exxon said it plans to lift oil production to 1.7 million bpd by 2030.
The Hammerhead project is located in the Stabroek Block, a massive offshore acreage in Guyana that Exxon operates in partnership with Hess (recently acquired by Chevron) and CNOOC.