ExxonMobil Announces $6.8 Billion Hammerhead Offshore Development in Guyana, Boosting Oil Production by 150,000 Barrels Per Day
ExxonMobil has announced a $6.8 billion investment in the Hammerhead offshore development in Guyana, set to boost oil production by 150,000 barrels per day starting in 2029. This marks the company's seventh project on the Stabroek block, which will include 18 production and injection wells, contributing to a total capacity of 1.5 million barrels per day. ExxonMobil's commitment to Guyana's oil-and-gas sector exceeds $60 billion, with over $7.8 billion already paid into the country's Natural Resource Fund since 2019.
ExxonMobil Corporation has announced the expansion of its offshore operations in Guyana with the approval of the Hammerhead project, marking its seventh development on the Stabroek block. Set to commence production in 2029, the project will utilize a floating production storage and offloading (FPSO) vessel to produce approximately 150,000 barrels of oil per day. The US$6.8 billion investment will include 18 production and injection wells, contributing to a total installed capacity of 1.5 million barrels per day on the block. This development is part of ExxonMobil’s broader commitment of over US$60 billion to Guyana’s oil-and-gas industry, which has already paid more than US$7.8 billion into the country’s Natural Resource Fund since 2019. Currently, ExxonMobil is producing 650,000 barrels per day from the Stabroek block, with production expected to grow to over 900,000 barrels per day by the end of the year. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Exxon Mobil Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 20250918195852) on September 22, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT)
