The Guyana government is seeking a consultant to review and evaluate ExxonMobil’s proposed Hammerhead oil development, its seventh offshore project.
A request for expressions of interest, issued through the Ministry of Natural Resources, aims to secure consulting services with part of the proceeds of a US$20 million loan from the World Bank under the Guyana Petroleum Resources Governance and Management Project. The consultancy will include advisory services, technical support, training, and capacity strengthening for the Government. The consultant is expected to begin in November 2024 for an estimated 20 weeks, during which they will be physically present in Guyana for an agreed period. Expressions of interest must be submitted by October 22, 2024.
The government previously enlisted Bayphase to review similar applications for several of ExxonMobil’s earlier developments.
ExxonMobil’s Hammerhead project targets oil production ranging between 120,000 and 180,000 barrels per day (b/d), with potential to also produce associated gas. Unlike previous developments where the majority of associated gas was re-injected and a small portion used as fuel, Exxon has indicated in its project summary—submitted to the Environmental Protection Agency — that there is potential for alternative uses of the gas in this project.
Exxon has already held public meetings to gather input from the Guyanese public on concerns to be included in the environmental impact assessment, which is required as part of the review process for the project’s environmental authorization.
The company is expected to submit its field development plan in early 2025, during the first quarter.
The six sanctioned oil projects preceding Hammerhead are projected to bring Guyana’s oil production capacity to approximately 1.3 million b/d. With the addition of Hammerhead, production is expected to rise to between 1.4 and 1.5 million b/d following its start-up in 2028.
All the developments are located in the Stabroek Block, which is operated by ExxonMobil. The company has a 45% stake, allied with Hess (30%) and CNOOC (25%).
