Exxon Mobil Corp plans to drill up to 30 wells as part of its seventh oil project in Guyana, named Hammerhead, according to the development plan proposed by the company and disclosed by the government on Monday.
The project, which is pending government approval, would start production in 2029, lifting the country’s capacity to more than 1.4 million barrels of oil per day. Exxon operates all production in Guyana, with Hess Corp and China’s CNOOC as partners.
Exxon anticipates a daily production capacity between 120,000-180,000 barrels of crude from Hammerhead, less than the 250,000 barrels per day from its largest vessels in the country.
The vessel will be capable of storing approximately 1.4 to 2 million barrels of oil, Exxon said.
The proposed floating production unit is expected to be a Very Large Crude Carrier (VLCC) conversion facility, and be located 15 km (9 miles) Southwest of Liza Destiny, Exxon’s first platform in the country.
(Reporting by Kemol King in Georgetown, writing by Sabrina Valle in Houston, editing by Sandra Maler)