MODEC, Inc. has been awarded a contract by ExxonMobil Guyana Limited to develop a Floating Production, Storage, and Offloading (FPSO) vessel for the Hammerhead project in the Stabroek Block, offshore Guyana, according to MODEC's release.
The contract is a Limited Notice To Proceed (LNTP), pending government and regulatory approval.
Phase one includes Front-End Engineering and Design (FEED), while phase two covers Engineering, Procurement, Construction, and Installation (EPCI).
The LNTP enables MODEC to initiate FPSO design activities to target a project startup in 2029, subject to necessary approvals. The second phase, involving construction and installation, depends on government and regulatory approval and project sanction by ExxonMobil Guyana Limited and its Stabroek Block co-venturers.
Additionally, an Operations and Maintenance Enabling Agreement (OMEA) has been established for MODEC’s Guyana fleet, facilitating long-term operations and maintenance of multiple FPSOs.
The Hammerhead FPSO will have a production capacity of 150,000 barrels of oil per day (BOPD), along with associated gas and water handling capabilities. It will be moored at a water depth of approximately 1,025 meters using a SOFEC Spread Mooring System.
This will be MODEC’s second FPSO in Guyana, following the Errea Wittu, which is under construction for ExxonMobil Guyana’s Uaru project.
“We are incredibly honored and excited to have been awarded this contract,” said MODEC Group President and CEO, Mr. Hirohiko Miyata. “It is a testament to our team's dedication, expertise, and commitment to delivering innovative and reliable offshore floating solutions. We look forward to collaborating closely with ExxonMobil Guyana to ensure the successful delivery of this second FPSO, contributing to the advancement of the offshore energy sector in Guyana.”
MODEC, Inc., headquartered in Tokyo, Japan, is a global provider of floating production systems, including Floating Production, Storage, and Offloading (FPSO) vessels, Floating Storage and Offloading (FSO) vessels, Floating LNGs (FLNGs), Tension Leg Platforms (TLPs), and Production Semi-submersibles.
ExxonMobil Guyana Limited is a subsidiary of ExxonMobil Corporation, a U.S.-based multinational energy company headquartered in Spring, Texas. ExxonMobil is one of the world’s largest publicly traded oil and gas companies, operating in exploration, production, refining, and chemicals.