MODEC has been awarded a contract by ExxonMobil Guyana to develop a floating production, storage and offloading (FPSO) vessel for the Hammerhead project.
MODEC will be delivering the contract in two phases, starting with front-end engineering and design (FEED) for phase one, followed by engineering, procurement, construction and installation (EPCI) for phase two.
Awaiting relevant government and regulatory approvals, the contract currently stands as a limited notice to proceed (LNTP) by ExxonMobil Guyana. This allows MODEC to begin the designing-related activities to meet the project startup deadline in 2029 following approvals. The second phase is subjected to further approvals 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.
MODEC Group President and CEO, Hirohiko Miyata, said, "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."
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