By Antonio Dey | HGP Nightly News|
The Government of Guyana has approved ExxonMobil Guyana Limited’s seventh offshore oil development — the Hammerhead Project, following the completion of final reviews of the Field Development Plan (FDP) and Environmental Impact Assessment (EIA).
This announcement was made by ExxonMobil Guyana President, Alistair Routledge, during a press briefing on Monday at the company’s new headquarters in Ogle, East Coast Demerara.
“We went through the final reviews of the field development plan and finalized a production license with the Ministry of Natural Resources. We’re delighted to announce that the project is moving forward — it is another US$7 billion investment in the country,” Routledge said.
The Hammerhead development, located in the Stabroek Block, marks another milestone in Guyana’s fast-growing oil industry. ExxonMobil has made a final investment decision (FID) following receipt of all required regulatory approvals.
The project is expected to come online by 2029 and will utilize a Floating Production, Storage, and Offloading (FPSO) vessel with a daily oil capacity of 150,000 barrels. The US$6.8 billion development will include 18 production and injection wells.
Routledge also provided updates on the company’s Longtail Project, noting that it is currently in the environmental permitting stage.
“We are in the environmental permitting process, and the Environmental Impact Assessment is on its way, having earlier this year concluded the consultation process on what should be covered by the EIA,” he explained.
The Longtail development — expected to be ExxonMobil’s eighth project — will proceed once EIA consultations are completed, with studies anticipated to be finalized by 2026, paving the way for a Field Development Plan submission to the government.
Routledge further noted that the company’s Uaru and Whiptail Projects — the fifth and sixth developments in the Stabroek Block — are also progressing as planned.
With Hammerhead’s approval, ExxonMobil continues to expand its portfolio of offshore developments, reinforcing Guyana’s position as one of the fastest-growing oil-producing nations in the world.
