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PROJECT PROFILE · FPSO

Hammerhead

The seventh offshore development in the Stabroek Block

Under construction

Project Overview

Hammerhead is the seventh offshore development in Guyana’s Stabroek Block. Operated by ExxonMobil Guyana Limited, it will develop the Hammerhead field through 18 planned production and injection wells. The project represents an estimated investment of approximately US$6.8 billion. As of 10 August 2026, the project was under construction and targeting first oil in 2029.

FPSO and Development Parameters

The development will be served by the Essequibo 1899 FPSO, based on a converted VLCC hull. The unit is designed to process approximately 150,000 barrels of oil per day, store about 1.6 million barrels, and reinject around 340,000 barrels of produced water per day.

Key Milestones

  1. Limited work begins

    Early FPSO-related work moves forward.

  2. Final investment decision

    The project receives approval and moves into full execution.

  3. Full EPCI award

    The full EPCI contract for the Essequibo 1899 FPSO is awarded to MODEC.

  4. Target first oil

    The project targets first oil in 2029.

Participants and roles

Key participants and their project roles.

  • United States

    ExxonMobil
    Operator

    ExxonMobil Guyana Limited holds a 45% interest in the Stabroek Block and serves as operator, leading overall Hammerhead development, government approvals, and the award of the FPSO and subsea contracts.

    Scope
    Ownership and governance
    Relationship start
    22 Sep 2025

  • Japan

    MODEC
    EPCI contractor

    MODEC is responsible for FEED and the full EPCI scope for the Essequibo 1899 FPSO, followed by 10 years of operations and maintenance from first oil.

    Scope
    Offshore facilities and operations
    Relationship start
    21 Apr 2025

  • China

    BOMESC
    Topsides builder

    Topsides module construction and related integration work for the Essequibo 1899 FPSO is being carried out at the Tianjin yard.

    Scope
    Offshore facilities and operations
    Relationship start
    Feb 2026

  • United States

    SOFEC, Inc.
    Designer

    Design and construction of the spread mooring system for the Essequibo 1899 FPSO.

    Scope
    Offshore facilities and operations
    Relationship start
    30 Sep 2025

  • Italy

    Saipem S.p.A.
    EPCI contractor

    Saipem is responsible for offshore EPCI of subsea pipelines, umbilicals, risers and flowlines for the Hammerhead production facilities and gas export system, with offshore work planned to start in 2028.

    Scope
    Subsea systems
    Relationship start
    26 Sep 2025

  • Guyana

    Hess Guyana Exploration Ltd.
    Other

    Hess Guyana Exploration Ltd. holds a 30% interest in the Stabroek Block and participates in Hammerhead investment decisions and development.

    Scope
    Ownership and governance
    Relationship start
    22 Sep 2025

  • Guyana

    CNOOC Petroleum Guyana Limited
    Other

    CNOOC Petroleum Guyana Limited holds a 25% interest in the Stabroek Block and participates in Hammerhead investment decisions and development.

    Scope
    Ownership and governance
    Relationship start
    22 Sep 2025