[Guyana] Hammerhead FPSO

[escveritas]

MODEC wins ExxonMobil Guyana’s Hammerhead FPSO contract

21 April 2025

MODEC, Inc. (“MODEC”) is pleased to announce that it has been awarded a contract by ExxonMobil Guyana Limited to develop a Floating Production, Storage, and Offloading (FPSO) vessel for the Hammerhead project.

The contract is a Limited Notice To Proceed (LNTP) by ExxonMobil Guyana, pending necessary government and regulatory approval. Phase one encompasses Front-End Engineering and Design (FEED) while phase two covers Engineering, Procurement, Construction, and Installation (EPCI).

The LNTP allows MODEC to start activities related to the FPSO design to ensure the earliest possible project startup in 2029, should the project receive the necessary government approvals. The performance of the second phase (i.e., construction and installation) is subject to government and regulatory approval as well as project sanction by ExxonMobil Guyana Limited and its Stabroek Block co-venturers.

Simultaneously, the Operations and Maintenance Enabling Agreement (OMEA) for MODEC’s Guyana fleet has been established to enable the operations and maintenance of multiple FPSOs under a long-term contractual arrangement.

The Hammerhead FPSO will have the capacity to produce 150,000 barrels of oil per day (BOPD), along with associated gas and water. It will be moored at a water depth of approximately 1,025 meters using a SOFEC Spread Mooring System.

The Hammerhead FPSO will be MODEC’s second for use in Guyana, following the Errea Wittu, which is currently being built for ExxonMobil Guyana’s Uaru project.

MODEC Group President and CEO, Mr. Hirohiko Miyata, expressed his delight for securing the Hammerhead FPSO project. "We are incredibly honored and excited to have been awarded this contract. It is a testament to our team's dedication, expertise, and commitment to delivering innovative and reliable offshore floating solutions. We look forward to collaborating closely with ExxonMobil Guyana to ensure the successful delivery of this second FPSO, contributing to the advancement of the offshore energy sector in Guyana."

[escveritas]

MODEC has been awarded Full EPCI Scope for Hammerhead FPSO Project

30 Sept 2025

Japanese floaters giant MODEC has announced that the company has been awarded the full Engineering, Procurement, Construction, and Installation (EPCI) scope to develop a Floating Production Storage and Offloading (FPSO) vessel for the Hammerhead Project following a Final Investment Decision (FID) by ExxonMobil Guyana.

In April 2025, MODEC received a Limited Notice to Proceed (LNTP) enabling it to commence FPSO design activities to support the earliest possible startup in 2029, subject to required government approvals. Phase One of the contract, covering Front-End Engineering and Design (FEED), has since been completed and MODEC is advancing Phase Two, EPCI, execution readiness in line with project governance.

“We are honored to be entrusted with the full EPCI scope for Hammerhead. This award reflects MODEC’s integrated capabilities to design, build and operate—from concept and FEED through to safe execution and timely delivery of the project,” said Soichi Ide, Head of Floating Production Solutions Business Unit of MODEC. “Building on the strong progress we’ve made on the Uaru Project, this milestone further underscores the momentum of our collaboration. MODEC’s strategic relationship with ExxonMobil Guyana positions us to work with them and our stakeholders to create lasting value throughout the project lifecycle.”

The Hammerhead FPSO will have the initial annual average production of 150,000 barrels of oil per day (BOPD), along with associated gas and water. It will be moored at a water depth of approximately 1,025 meters using SOFEC’s Spread Mooring System.

The Hammerhead FPSO will be MODEC’s second for use in Guyana, following the Errea Wittu, which is currently being built for ExxonMobil Guyana’s Uaru project. As with the Uaru Project, MODEC will provide ExxonMobil with operations and maintenance services for the FPSO for 10 years from first oil.