Guyana is accelerating efforts to diversify its economy and expand domestic energy infrastructure as offshore oil production continues to drive rapid economic growth, according to President Irfaan Ali. Speaking in Georgetown, Ali said the government is using rising revenue from ExxonMobil-operated offshore developments to fund infrastructure, power generation and industrial projects aimed at reducing long-term […]
DOF Group has secured a large turn-key contract by MODEC Guyana to carry out mooring pre-lay work for the Hammerhead floating production, storage and offloading vessel (FPSO) unit, set for deployment at ExxonMobil’s project offshore Guyana.
The Government of Guyana and ExxonMobil Guyana on Tuesday last launched a new Oil and Gas Corner at the New Amsterdam National Library, an initiative aimed at demystifying the oil and gas industry and inspiring young Guyanese to pursue careers in the sector. According to a Ministry of Finance release, speaking at the official opening, […]
TechnipFMC has been selected by ExxonMobil Guyana to supply subsea production systems for the Hammerhead development in Guyana’s Stabroek block, TechnipFMC announced on Thursday.
First oil is expected in Q2 2029 from the project, which will utilise an FPSO with a production capacity of 150,000 bopd.
The Guyanese government has used the windfall from oil sales to build infrastructure, schools, and hospitals but many in Guyana still live in poverty. As oil production grows, however, so should income to invest in more public services and reducing poverty levels.
Following its debut at the Guyana Energy Conference and Supply Chain Expo in 2024, MODEC has returned to this year’s event with a stronger resolve to build lasting partnerships in the local energy sector. The company’s Country Manager, Rafael Fumis, took the opportunity on Tuesday to reaffirm the company’s long-term commitment to Guyana while highlighting its ongoing investments in local capacity development.
Japan’s MODEC has delivered a structure that will form part of a floating production storage and offloading (FPSO) unit to be deployed to a project offshore Guyana operated by ExxonMobil, a U.S.-headquartered oil and gas giant.
According to the EIA, the development plan calls for drilling 14 to 30 production and water-injection wells; installing and operating subsea umbilical, riser, and flowline (SURF) equipment that will connect the FPSO to the wells; using an FPSO to process, store, and offload the recovered oil; and installing a 13-km gas export pipeline from the FPSO to a tie-in on the Gas to Energy pipeline. The EIA said subsea components are expected to be installed in 2028, with FPSO installation and commissioning expected the same year.
Guyana’s offshore oil industry is set to take a major leap forward as the One Guyana floating production, storage, and offloading (FPSO) vessel readies its first export cargo. According to Reuters, the inaugural shipment of the newly branded ‘Golden Arrowhead’ crude grade is slated for late August to early September, marking a critical milestone for the ExxonMobil-led consortium that includes Hess Corp. and China’s state-run CNOOC.