UK-headquartered energy technology provider TechnipFMC has tucked under its belt a new multimillion-dollar subsea assignment, which will enable it to help ExxonMobil Guyana, a subsidiary of the U.S.-headquartered ExxonMobil, to bring to life an offshore oil project in Guyana’s Stabroek block.
While disclosing the award of a substantial subsea contract for ExxonMobil Guyana’s Hammerhead project, TechnipFMC revealed the deal’s worth to be between $250 million and $500 million.
Thanks to this contract, the company will supply subsea production systems for the seventh deepwater oil development in Guyana’s Stabroek block, for which a $6.8 billion investment was recently unveiled .
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TechnipFMC’s scope of work covers the provision of project management, engineering, and manufacturing of subsea production systems, supporting both production and water injection capabilities.
The company claims that the subsea architecture will include products from the Subsea 2.0 platform, including subsea trees, manifolds, and associated controls. The Stabroek block partners are ExxonMobil (operator with 45% interest), Hess ( now part of Chevron, 30%), and CNOOC Petroleum Guyana (25%).
Jonathan Landes , President of Subsea at TechnipFMC, commented: “Hammerhead is our seventh greenfield project award from ExxonMobil Guyana since the first development was sanctioned in 2017.
“Our continued success stems from our ability to provide schedule certainty, built on our proven execution and the benefits of Subsea 2.0. We look forward to continuing to deliver for ExxonMobil Guyana and strengthening our relationship through future opportunities.”
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While MODEC will develop an FPSO for the Hammerhead project, Saipem will proceed with the execution of engineering, procurement, construction, and installation (EPCI) activities for this development, which is located about 200 kilometers from the Guyanese shore.
Hammerhead is envisioned to add between 120,000 and 180,000 barrels per day (bpd), increasing Guyana’s overall production capacity to nearly 1.5 million bpd once it comes online in 2029.