Guyana Hammerhead project: ExxonMobil issued a notice to proceed to Saipem S.p.A. for a $500 million contract related to its Hammerhead development in Guyana. The project is the company’s seventh offshore development in Guyana. On September 22, 2025, ExxonMobil announced it had received government approvals for its seventh development in the Stabroek block. Chevron is a new partner in this project. Hammerhead project is designed to add 150,000 barrels of oil per day (bopd), bringing the block’s total installed capacity to 1.5 million bopd. With the recent startup of the fourth Floating Production, Storage, and Offloading (FPSO) vessel, the ONE GUYANA, ExxonMobil expects production to exceed 900,000 bopd by the end of 2025. In June 2025, the first shipment of crude from the ONE GUYANA FPSO was exported.
Note by Alessandro Bazzoni