The Government of Guyana is proud to announce the approval of the Hammerhead Field Development Plan and the issuance of the Hammerhead Petroleum Production Licence, marking a significant milestone in the country’s journey towards sustainable energy development.
This major oil project, operated by ExxonMobil Guyana Limited, aims to unlock the vast potential of the Stabroek Block, one of the most prolific offshore areas in the world. The Hammerhead development is expected to produce an estimated 445 million barrels of oil, with a daily production capacity of 150,000 barrels.
The project features state-of-the-art facilities, including a Very Large Crude Carrier (VLCC) conversion-type Floating Production, Storage, and Offloading (FPSO), built by Japanese company MODEC. This cutting-edge technology will enable the efficient extraction and processing of oil, while also minimizing environmental impact.
The Hammerhead project is expected to not only boost Guyana’s energy security but also drive industrial growth and create employment opportunities across various sectors. With an anticipated first oil production in 2029, this project marks a significant step towards positioning Guyana as a key player in the global energy landscape.
The Government of Guyana is committed to responsible resource management and sustainable development, ensuring that the benefits of this project are shared equitably among all stakeholders.
Source: guyanachronicle.com
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