ExxonMobil has taken the final investment decision (FID) on the Hammerhead project, the seventh development on Guyana's Stabroek block, following regulatory clearances. The Stabroek block is operated by ExxonMobil Guyana, which holds a 45% interest. Hess Guyana Exploration and CNOOC Petroleum Guyana have 30% and 25% stakes in the block, respectively. The $6.8bn Hammerhead project is expected to commence operations in 2029. The project will use a floating production storage and offloading (FPSO) vessel ...

Exxon Mobil Corporation (XOM) is moving closer to expanding its oil output in Guyana, as its fourth floating production storage and offloading (FPSO) vessel, One Guyana, begins the installation process offshore. This initiative, confirmed by Guyana’s maritime authority earlier this week, marks a significant step toward the rapid development of the country’s prolific Stabroek Block.Built by SBM Offshore, the One Guyana FPSO has a production capacity of 250,000 barrels per day. It departed Singapore in mid-Fe ...