ExxonMobil is seeking to accelerate the start-up of its Hammerhead offshore oil and gas project in Guyana by one year, to 2028. This was revealed by its country President Alistair Routledge at a recent presser.
Hammerhead is the seventh development for Exxon in Guyana, and the second that will contribute natural gas as part of the Gas-to-Energy project.
“… We will work as hard as we can to deliver ahead of schedule, so the stretch is to try and achieve 2028 startup, but 2029 is currently the anticipated timeline,” Routledge told reporters last Thursday during a press conference at Ogle.
The Hammerhead development, approved by the Guyana government last year, is expected to produce about 150,000 barrels of oil per day and roughly 90 million cubic feet of natural gas per day.
The project is set to play a key role in expanding gas supply to shore, with its output linked to the government’s Gas-to-Energy project. Gas volumes transported via pipeline are projected to rise from around 50 million cubic feet per day from the Liza 1 project to approximately 125-130 million cubic feet per day when Hammerhead is integrated.
That additional gas is expected to support power generation and the production of natural gas liquids, including cooking gas for local use.
The government has said the Gas-to-Energy project will enable a reduction in electricity costs by as much as 50% and lower the price of cooking gas for households, as Guyana seeks to leverage its offshore resources to cut energy costs and improve energy security.
Exxon, which leads a consortium with Hess and China’s CNOOC, currently produces more than 900,000 barrels of oil per day offshore Guyana.
