Japanese offshore engineering company MODEC has announced that it has been awarded a significant contract to develop a Floating Production, Storage, and Offloading (FPSO) vessel for ExxonMobil’s Hammerhead oil project, located off the coast of Guyana.
The contract was granted on a Limited Notice To Proceed (LNTP) basis by ExxonMobil Guyana and is currently contingent on final approvals from the government and relevant regulatory authorities.
MODEC stated that the project will be executed in two key phases. The first phase will involve front-end engineering and design (FEED) work, laying the foundation for the vessel’s technical specifications and operational planning. Upon successful completion and approval, the project will move into the second phase, which includes full-scale engineering, procurement, construction, and installation (EPCI) of the FPSO unit.
This latest contract win reinforces MODEC’s growing footprint in the offshore oil and gas sector, especially in the Americas, and adds to its track record of delivering complex, large-scale offshore production solutions. The Hammerhead FPSO is expected to play a critical role in ExxonMobil’s expanding operations in Guyana, a country that has rapidly emerged as a major player in the global energy landscape.