ExxonMobil has announced plans for its seventh oil project in Guyana, which includes the drilling of up to 30 wells with an estimated daily production capacity of 120 to 180 kb/d of crude oil. The Hammerhead project field will be operated by ExxonMobil (45%) in partnership with Hess Corp (30%), and China's CNOOC (25%). The project should also be equipped for projected flows of natural gas, with a Very Large Crude Carrier (VLCC) conversion facility to be located at 15 km south-west of Exxon’s platform Liza Destiny, in the Stabroek offshore block, where the company has three fields in operation. The project would start production in 2029, once it receives the required governmental approval, increasing the country's production capacity to more than 1.4 mb/d.
Currently, the three FPSOs in operation at Stabroek block (the Liza Destiny, Liza Unity and Payara) producing about 620 kb/d. The partnership also has other three projects under development with a FPSOs capacity of approximately 250 kb/d each (the Yellowtail, the Uaru and the Whiptail) which are expected to come online in 2025, 2026 and 2027, respectively.