Information Americas, GEORGETOWN, Guyana, Mon. Sept. 22, 2025: Guyana has taken one other decisive step in its transformation into a worldwide power participant, approving the Hammerhead Area Growth Plan (FDP) and granting the much-anticipated Hammerhead Petroleum Production Licence, (PPL).
Hammerhead turns into the seventh sanctioned offshore undertaking within the Stabroek Block, which is operated by ExxonMobil Guyana Restricted alongside companions Hess Company and CNOOC. Found in 2018, the Hammerhead reservoir sits within the block’s southwestern quadrant and is now cleared for a large US$6.8 billion improvement.
The Ministry of Pure Sources emphasised that the Hammerhead licence options enhanced safeguards, together with full alignment with the brand new Oil Air pollution Prevention, Preparedness, Response and Accountability Act 2025. The licence additionally strengthens oversight on manufacturing ranges, introduces stricter situations on off-specification fluid discharges, and commits to transferring related fuel to Guyana’s Fuel-to-Vitality pipeline community.
Officers say these measures mirror the federal government’s dedication to accountable useful resource improvement whereas guaranteeing that power development additionally advantages the native financial system and helps sustainability objectives.
Hammerhead will produce via a Very Giant Crude Service (VLCC) conversion-type Floating Manufacturing, Storage, and Offloading (FPSO) vessel constructed by Japanese agency MODEC. The undertaking is anticipated to ship 445 million barrels of oil over its lifetime, with a peak capability of 150,000 barrels of oil per day (bopd). First oil is anticipated by 2029, which might push Guyana’s whole manufacturing capability to roughly 1.5 million bopd by mid-2029, cementing its place among the many world’s fastest-growing oil producers.
Past output, the undertaking is projected to spice up power safety, create new jobs, and drive industrial development as a part of Guyana’s long-term nationwide improvement technique.
ExxonMobil confirmed it had reached its closing funding determination following regulatory approval. “We proceed to set a brand new normal in Guyana, advancing a powerful seventh undertaking simply 10 years after first discovery,” mentioned Dan Ammann, President of ExxonMobil Upstream Firm. “Along with the federal government and folks of Guyana, we’re constructing a thriving oil-and-gas business that’s creating jobs, provider alternatives, earnings, and follow-on investments.”
The oil main highlighted that its whole dedication for Guyana’s seven accredited tasks now exceeds US$60 billion. Greater than US$7.8 billion has already flowed into Guyana’s Pure Useful resource Fund since manufacturing started in 2019, and ExxonMobil studies that about 70 % of the Stabroek block workforce — roughly 6,200 individuals — are Guyanese.
ExxonMobil is presently producing about 650,000 bopd from the block. With the current startup of its fourth FPSO, ONE GUYANA, manufacturing is on monitor to exceed 900,000 bopd by 12 months’s finish. Development continues on the fifth and sixth tasks — Uaru and Whiptail — with first oil anticipated in 2026 and 2027 respectively.
Hammerhead’s approval indicators that Guyana’s oil growth is way from over — and that the small South American nation is firmly on its strategy to turning into a heavyweight within the world power market.
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