Overview
- The development will use a MODEC-supplied FPSO designed to produce about 150,000 barrels per day and will include 18 production and injection wells.
- First oil is targeted for the second quarter of 2029, according to Guyana’s Ministry of Natural Resources.
- ExxonMobil operates Stabroek with a 45% interest, alongside Chevron’s Hess unit at 30% and CNOOC at 25%.
- Associated gas from Hammerhead will be routed to a pipeline for Guyana’s gas-to-energy project to support domestic electricity.
- Total committed capital across seven approved Stabroek projects now exceeds $60 billion, with output progressing toward roughly 900,000 barrels per day this year and a stated goal of 1.7 million boe/d by 2030.