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TechnipFMC awarded hefty contract for subsea works on Exxon’s 7th project
Kaieteur News – ExxonMobil Guyana Limited (EMGL) has awarded a substantial contract valued between US$250-500 million to TechnipFMC for its seventh development offshore Guyana, the Hammerhead project.
The company made the disclosure in a statement on Thursday.
TechnipFMC said it will provide project management, engineering, and manufacturing of subsea production systems supporting both production and water injection.
The subsea architecture will include products from the Subsea 2.0®️ platform, including subsea trees, manifolds, and associated controls.
Jonathan Landes, president of Subsea at TechnipFMC, said, “Hammerhead is our seventh greenfield project award from ExxonMobil Guyana since the first development was sanctioned in 2017. Our continued success stems from our ability to provide schedule certainty, built on our proven execution and the benefits of Subsea 2.0®️.”
He continued, “We look forward to continuing to deliver for ExxonMobil Guyana and strengthening our relationship through future opportunities.”
While TechnipFMC did not disclose the value of the contract, it labeled it as substantial and noted that such contract is between US$250 million and $500 million.
On Monday, the Government of Guyana announced the approval of a Petroleum Production Licence (PPL) for EMGL for its seventh development in the Stabroek Block, the US$6.8 billion Hammerhead project.
The Hammerhead development is located in the south-western portion of the Stabroek Block offshore Guyana and targets the Hammerhead reservoir. Hammerhead was announced as Exxon’s ninth commercial discovery in August 2018. The Hammerhead-1 well was drilled in a new reservoir, encountering approximately 197 feet (60 metres) of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 13,862 feet (4,225 metres) depth in 3,773 feet (1,150 metres) of water.
First oil from the Hammerhead project is expected by 2029. The project will use a Very Large Crude Carrier (VLCC) conversion-type Floating Production, Storage, and Offloading (FPSO), which will be built by Japanese shipbuilder, MODEC. Notably, a total of 445 million barrels of oil is forecast to be produced with an estimated daily production capacity of 150,000 barrels of oil per day (bpd). Hammerhead oil production will be facilitated through 10 production wells and 8 injection wells.
Hammerhead is expected to boost Guyana’s overall production capacity at approximately 1.5 million bpd, with the Field Development Plan (FDP) projecting this by the second quarter of 2029.
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