Exxon expected to submit Hammerhead development plan to Guyana regulators early next year

The field development plan for ExxonMobil’s Hammerhead project is expected in the first quarter of 2025, according to Guyana’s Minister of Natural Resources Vickram Bharrat. 

“…then we will do our necessary due diligence with the view of issuing the license once everything is okay,” Mr. Bharrat told reporters during the Ministry’s half-year press conference on Wednesday. 

Exxon tapped Hammerhead as its 7th Stabroek Block project in June as a standalone development. 

The development is expected to target between 120,000 and 180,000 barrels per day (b/d). Unlike the previous developments, Hammerhead is expected to use a smaller floating, production storage and offloading vessel (FPSO), seen as the most efficient to develop the resource.

Bringing Hammerhead gas to shore among considerations for Exxon | OilNOW 

The proposed project will be located in the south-central portion of the Stabroek Block, 160 kilometers (km) from Georgetown. 

Bringing Hammerhead gas to shore among considerations for Exxon

Exxon plans to drill 14 to 30 production and injection wells. First oil is targeted in 2029. Production from Hammerhead is expected to last “at least 20 years.

The addition of Hammerhead could take total oil production capacity offshore Guyana to 1.5 million b/d.

Exxon has a 45% stake in the Stabroek Block while Hess holds 30% and CNOOC holds 25%.