MODEC secures ExxonMobil contract for Hammerhead FPSO in Guyana

(WO) — MODEC has been awarded a contract by ExxonMobil Guyana Limited to develop a Floating Production, Storage, and Offloading (FPSO) vessel for the Hammerhead project offshore Guyana.

The contract, issued as a Limited Notice to Proceed (LNTP), allows MODEC to begin early-phase work on the FPSO while awaiting regulatory and government approvals. Phase one of the project will involve front-end engineering and design (FEED), followed by engineering, procurement, construction, and installation (EPCI) in phase two—pending final project sanction by ExxonMobil Guyana and its Stabroek Block co-venturers.

The Hammerhead FPSO will have a production capacity of 150,000 barrels of oil per day, along with processing facilities for associated gas and water. It will be moored in approximately 1,025 meters of water using a SOFEC spread mooring system.

The LNTP enables MODEC to begin FPSO design activities to support an early project startup target of 2029, should approvals move forward.

Additionally, an Operations and Maintenance Enabling Agreement (OMEA) has been established to cover long-term services for multiple FPSOs operated by MODEC in Guyana. This contract marks MODEC’s second FPSO project in the country, following the Errea Wittu, currently under construction for ExxonMobil Guyana’s Uaru development.

“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,” said Hirohiko Miyata, president and CEO of MODEC Group. “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.”