MODEC has secured the full engineering, procurement, construction and installation (EPCI) contract to deliver a floating production, storage and offloading (FPSO) vessel for ExxonMobil Guyana’s Hammerhead development.
In April, the offshore contractor was granted a limited notice to proceed (LNTP), allowing it to begin designing the FPSO.
This early design start was aimed at facilitating the earliest possible project start‑up in 2029, subject to government approvals.
The first phase of the contract, focused on front‑end engineering and design (FEED), has now been completed.
MODEC said it is moving into phase two, which involves full EPCI and execution readiness aligned with project governance standards.
MODEC Floating Production Solutions Business Unit head Soichi Ide said: “We are honoured to be entrusted with the full EPCI scope for Hammerhead.
“This award reflects MODEC’s integrated capabilities to design, build and operate – from concept and FEED through to safe execution and timely delivery of the project.
Ide noted that the milestone builds on the significant progress achieved with the Uaru Project, highlighting the continued momentum in the partnership.
He added that MODEC’s strategic relationship with ExxonMobil Guyana enables close collaboration with the company and other stakeholders to deliver long‑term value across the project’s life cycle.
The Hammerhead FPSO is designed with an initial average production capacity of 150,000 barrels of oil per day (bopd), alongside associated gas and produced water handling.
It will be moored in approximately 1,025 metres of water using SOFEC’s spread mooring system.
This will be MODEC’s second FPSO for Guyana, following the Errea Wittu currently under construction for ExxonMobil Guyana’s Uaru project.
As with Uaru, MODEC will deliver operations and maintenance services for Hammerhead for a 10‑year period from first oil.
Last month, ExxonMobil reached a final investment decision on the US$6.8 billion Hammerhead project – the seventh development in Guyana’s Stabroek block – after securing regulatory approvals.
The Stabroek block is operated by ExxonMobil Guyana, holding a 45 per cent interest.
Hess Guyana Exploration and CNOOC Petroleum Guyana hold 30 per cent and 25 per cent stakes, respectively.
