Exxon greenlights investment for Hammerhead project in Guyana
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Exxon Mobil has approved the investment for its Hammerhead project in Guyana, its seventh development in the region, set to start production in 2029. This project aims to contribute to the joint venture's target of 1.7 million barrels of oil equivalent per day by 2030 from the Stabroek Block. The Hammerhead development will utilize a floating production storage and offloading vessel with a capacity of 150,000 barrels per day. Exxon holds a 45% stake in the Stabroek Block, with Chevron and CNOOC owning 30% and 25%, respectively.
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