The contract, issued as a Limited Notice to Proceed (LNTP), allows MODEC to begin early-phase work on the FPSO while awaiting regulatory and government approvals. Phase one of the project will involve front-end engineering and design (FEED), followed by engineering, procurement, construction, and installation (EPCI) in phase two—pending final project sanction by ExxonMobil Guyana and its Stabroek Block co-venturers.
The Hammerhead FPSO will have a production capacity of 150,000 barrels of oil per day, along with processing facilities for associated gas and water. It will be moored in approximately 1,025 meters of water using a SOFEC spread mooring system.
The LNTP enables MODEC to begin FPSO design activities to support an early project startup target of 2029, should approvals move forward.