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April 21, 2025 — ExxonMobil Guyana Limited has awarded MODEC a contract to develop a Floating Production, Storage, and Offloading (FPSO) vessel for the Hammerhead project, located offshore Guyana. The contract, issued as a Limited Notice to Proceed (LNTP), initiates early-phase work on the FPSO, including front-end engineering and design (FEED). Pending regulatory and government approvals, the project will advance to the engineering, procurement, construction, and installation (EPCI) phase.
The Hammerhead FPSO is designed to produce approximately 150,000 barrels of oil per day and will process associated gas and water. It will be moored in about 1,025 meters of water using a SOFEC spread mooring system. The LNTP allows MODEC to commence FPSO design activities, aiming for an early project startup target in 2029, subject to final project sanction by ExxonMobil Guyana and its Stabroek Block co-venturers.
An Operations and Maintenance Enabling Agreement (OMEA) has also 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.
MODEC, Inc., headquartered in Tokyo, Japan, is a leading provider of floating production solutions to the offshore oil and gas industry. The company specializes in the engineering, procurement, construction, and operation of FPSO vessels, Floating Storage and Offloading (FSO) units, and other offshore facilities. MODEC has a strong track record in delivering offshore projects worldwide, including in South America, Africa, and Asia.
ExxonMobil is one of the world's largest publicly traded energy providers and chemical manufacturers. In Guyana, ExxonMobil operates the Stabroek Block through its affiliate, ExxonMobil Guyana Limited, holding a 45% interest. The company has made significant oil discoveries in the block, contributing to Guyana's emergence as a major oil-producing nation.
In offshore oil and gas projects like Hammerhead, clad plates are essential for constructing equipment that must withstand corrosive environments. These plates consist of a corrosion-resistant alloy bonded to a carbon steel base, providing durability and resistance to harsh conditions. In the Hammerhead FPSO, clad plates are likely utilized in pressure vessels, heat exchangers, and piping systems, ensuring the integrity and longevity of the infrastructure while minimizing maintenance requirements.
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