ExxonMobil Guyana Limited has issued a Request for Information (RFI) to identify qualified suppliers to provide a Local Insurance Policy for the Hammerhead Construction All Risk (CAR) Insurance Package Program.
The RFI seeks insurers who meet the requirements under section 14.4.1 of the Hammerhead Environmental Permit, which mandates that a Local Insurer must hold a Local Content Certificate and cannot retain any risk.
ExxonMobil seeks Insurance Broker for Hammerhead development | OilNOW
According to ExxonMobil, the insurance program will cover Property Damage (PD), Operator’s Extra Expense (OEE), and Third-Party Liability (TPL) for all Hammerhead-related exposures worldwide. The PD component will include subsea, umbilical, riser, and flowline (SURF) assets and activities, while the OEE will consist of control of well, redrilling, seepage, pollution, and cleanup costs. The TPL coverage will address liabilities arising from sudden and unforeseen pollution and other third-party exposures.
The coverage will span three distinct periods, along with a 12-month maintenance period and a 12-month discovery period, subject to agreed terms, conditions and exclusions.
The Hammerhead Development is ExxonMobil’s seventh offshore oil project in the Stabroek Block. It is expected to produce about 150,000 barrels of oil per day when operations begin in 2029, pending regulatory approval. Once online, Hammerhead will push Guyana’s total offshore production capacity above 1.4 million barrels per day.
