Offshore Frontier Solutions Pte. Ltd. (OFS), a joint venture between MODEC Inc. and Toyo Engineering Corporation, has secured a contract for ExxonMobil Guyana’s Hammerhead project.
The contract, awarded by MODEC, Inc., covers Engineering, Procurement, Construction, and Installation (EPCI) of the floating production storage and offloading (FPSO) vessel.
“This contract is a Limited Notice To Proceed (LNTP) by ExxonMobil Guyana,” OFS said in a statement.
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The project is pending government and regulatory approvals. Phase one includes Front-End Engineering and Design (FEED). Phase two will cover EPCI.
The LNTP allows OFS to begin FPSO design work. This is to support the earliest possible startup in 2029. Construction and installation will only proceed after final project sanction and necessary approvals.
The Hammerhead FPSO will produce 150,000 barrels of oil per day. It will also handle associated gas and water.
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It will be moored in waters about 1,025 meters deep. This is OFS’s fourth FPSO project order from MODEC.
“TOYO will contribute to the advancement of the offshore energy sector in Guyana, through this project,” the company said.
The Hammerhead development would be the seventh in the 6.6-million-acre Stabroek Block, where ExxonMobil has made more than 30 discoveries since 2015.
