{"id":888409,"date":"2025-09-22T14:05:32","date_gmt":"2025-09-22T18:05:32","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/exxonmobil-guyana-expands-capacity-with-seventh-offshore-development\/"},"modified":"2025-09-22T14:05:32","modified_gmt":"2025-09-22T18:05:32","slug":"exxonmobil-guyana-expands-capacity-with-seventh-offshore-development","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/exxonmobil-guyana-expands-capacity-with-seventh-offshore-development\/","title":{"rendered":"ExxonMobil Guyana Expands Capacity With Seventh Offshore Development"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>ExxonMobil Guyana Expands Capacity With Seventh Offshore Development<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nHammerhead project receives government approvals; production expected to begin in 2029<\/p>\n<\/li>\n<li>\nSeventh Stabroek block development will have the capacity to produce approximately 150,000 barrels of oil per day (bopd), bringing total installed capacity on the block to 1.5 million bopd<\/p>\n<\/li>\n<li>\nUS$6.8 billion of additional investment in Guyana\u2019s growing economy<\/p>\n<\/li>\n<\/ul>\n<p>SPRING, Texas&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nExxonMobil has made a final investment decision for the Hammerhead development offshore Guyana, after receiving the required regulatory approvals. Hammerhead, the seventh project on the Stabroek block, is anticipated to come online in 2029.<\/p>\n<p>\nThe development will utilize a floating production storage and offloading (FPSO) vessel with a capacity to produce approximately 150,000 barrels of oil per day.<\/p>\n<p>\nThe US$6.8 billion Hammerhead project will include 18 production and injection wells.<\/p>\n<p>\n\u201cWe continue to set a new standard in Guyana \u2013 advancing an impressive seventh project just 10 years after first discovery,\u201d said President of ExxonMobil Upstream Company Dan Ammann. \u201cIn collaboration with the people and government of Guyana, we\u2019ve helped build a thriving new oil-and-gas industry in the country that is creating jobs, supplier opportunities, profits and follow-on investments.\u201d<\/p>\n<p>\nThis latest decision increases funds committed for seven approved projects to more than US$60 billion. More than US$7.8 billion has been paid into Guyana\u2019s Natural Resource Fund since production in the Stabroek block started in 2019.<\/p>\n<p>\nThere are currently some 6,200 Guyanese working in support of Stabroek block operations\u2014which is about 70% of the workforce. ExxonMobil Guyana and its contractors have spent more than US$2.9 billion with Guyanese suppliers since 2015.<\/p>\n<p>\nExxonMobil is safely producing approximately 650,000 barrels of oil per day from the Stabroek block. With the recent successful startup of a fourth FPSO, the ONE GUYANA, the company anticipates growing production to more than 900,000 barrels of oil per day by the end of the year. Construction is underway for the fifth and sixth approved projects, Uaru and Whiptail, with Uaru anticipated to start production in 2026, and Whiptail is anticipated for startup in 2027.<\/p>\n<p>\nExxonMobil affiliate ExxonMobil Guyana Limited is operator and holds 45% interest in the Stabroek block. Hess Guyana Exploration Ltd. holds 30% interest, and CNOOC Petroleum Guyana Limited holds 25% interest.<\/p>\n<p><b>About ExxonMobil<\/b><\/p>\n<p>\nExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society\u2019s evolving needs.<\/p>\n<p>\nThe corporation\u2019s primary businesses &#8211; Upstream, Product Solutions and Low Carbon Solutions \u2013 provide products that enable modern life, including energy, chemicals, lubricants, and lower emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants, and chemical companies in the world. ExxonMobil also owns and operates the largest CO2 pipeline network in the United States. In 2021, ExxonMobil announced Scope 1 and 2 greenhouse gas emission-reduction plans for 2030 for operated assets, compared to 2016 levels. The plans are to achieve a 20-30% reduction in corporate-wide greenhouse gas intensity; a 40-50% reduction in greenhouse gas intensity of upstream operations; a 70-80% reduction in corporate-wide methane intensity; and a 60-70% reduction in corporate-wide flaring intensity. To learn more, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fcorporate.exxonmobil.com%2F&amp;esheet=54326780&amp;newsitemid=20250918195852&amp;lan=en-US&amp;anchor=exxonmobil.com&amp;index=1&amp;md5=dbfcffdcef28a0bb65776d3b749819be\">exxonmobil.com<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fcorporate.exxonmobil.com%2Fsustainability-and-reports%2Fadvancing-climate-solutions&amp;esheet=54326780&amp;newsitemid=20250918195852&amp;lan=en-US&amp;anchor=ExxonMobil%26%238217%3Bs+Advancing+Climate+Solutions&amp;index=2&amp;md5=32ae6fdbf97196411bf51cbc3894c7ad\">ExxonMobil\u2019s Advancing Climate Solutions<\/a>.<\/p>\n<p><b>Cautionary Statement<\/b><\/p>\n<p>\nStatements of future events, results, expectations, or conditions in this release are forward-looking statements. Actual future results, including project plans, schedules, initial capacities, production rates, and resource recoveries could differ materially due to: changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments including obtaining necessary regulatory permits; reservoir performance; the outcome of future exploration efforts; timely completion of development and construction projects; technical or operating factors; and other factors cited under the caption \u201cFactors Affecting Future Results\u201d on the Investors page of our website at exxonmobil.com and under Item 1A. Risk Factors in our annual report on Form 10-K. References to \u201cbarrels of oil per day\u201d and other quantities include estimated quantities that are not yet classified as proved reserves under SEC definitions but are expected to be ultimately recoverable. The term \u201cproject\u201d can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250918195852r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250918195852\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250918195852\/en\/<\/a><\/span><\/p>\n<p>\nMedia Relations: (737) 272-1452<\/p>\n<p><b>KEYWORDS:<\/b> United States South America Guyana North America Texas<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Oil\/Gas Energy<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250918195852\/en\/513202\/3\/USE_THIS_exmo_red.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>ExxonMobil Guyana Expands Capacity With Seventh Offshore Development Hammerhead project receives government approvals; production expected to begin in 2029 Seventh Stabroek block development will have the capacity to produce approximately 150,000 barrels of oil per day (bopd), bringing total installed capacity on the block to 1.5 million bopd US$6.8 billion of additional investment in Guyana\u2019s growing economy SPRING, Texas&#8211;(BUSINESS WIRE)&#8211; ExxonMobil has made a final investment decision for the Hammerhead development offshore Guyana, after receiving the required regulatory approvals. Hammerhead, the seventh project on the Stabroek block, is anticipated to come online in 2029. The development will utilize a floating production storage and offloading (FPSO) vessel with a capacity to produce approximately 150,000 barrels of oil per day. The US$6.8 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/exxonmobil-guyana-expands-capacity-with-seventh-offshore-development\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ExxonMobil Guyana Expands Capacity With Seventh Offshore Development&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-888409","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ExxonMobil Guyana Expands Capacity With Seventh Offshore Development - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/exxonmobil-guyana-expands-capacity-with-seventh-offshore-development\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ExxonMobil Guyana Expands Capacity With Seventh Offshore Development - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"ExxonMobil Guyana Expands Capacity With Seventh Offshore Development Hammerhead project receives government approvals; production expected to begin in 2029 Seventh Stabroek block development will have the capacity to produce approximately 150,000 barrels of oil per day (bopd), bringing total installed capacity on the block to 1.5 million bopd US$6.8 billion of additional investment in Guyana\u2019s growing economy SPRING, Texas&#8211;(BUSINESS WIRE)&#8211; ExxonMobil has made a final investment decision for the Hammerhead development offshore Guyana, after receiving the required regulatory approvals. Hammerhead, the seventh project on the Stabroek block, is anticipated to come online in 2029. The development will utilize a floating production storage and offloading (FPSO) vessel with a capacity to produce approximately 150,000 barrels of oil per day. 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Hammerhead, the seventh project on the Stabroek block, is anticipated to come online in 2029. The development will utilize a floating production storage and offloading (FPSO) vessel with a capacity to produce approximately 150,000 barrels of oil per day. 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