Development drilling has started at the Hammerhead Project offshore Guyana, as work advances to bring the Stabroek Block development into production by 2029.
The Ministry of Finance, in its 2026 Mid-Year Report, said drilling commenced during the first six months of this year, alongside progress on other key components of the project.
“The Hammerhead Project also continues to be progressed with the commencement of development drilling in the first six months of the year,” the report stated.
Work is also moving ahead on the design of the project’s Floating Production, Storage and Offloading vessel (FPSO), while fabrication of the subsea umbilicals, risers and flowlines (SURF) is advancing.
According to the report, these activities are being undertaken to keep the development on schedule for first oil in 2029.
Hammerhead is among several developments contributing to continued activity in the prolific Stabroek Block.
During the first half of 2026, production from the block reached 163.3 million barrels, up from 115.7 million barrels during the corresponding period last year. The increase was primarily supported by the addition of the One Guyana FPSO to the producing fleet in 2025.
Meanwhile, development work is also continuing on the Whiptail Project, which remains on track for startup in 2027.
The report said fabrication and integration work on the Whiptail FPSO is continuing, while SURF activities and the project’s second offshore installation campaign are also progressing.
Further developments are also being pursued beyond Hammerhead and Whiptail. Government is reviewing the field development plan and production licence application for Longtail, which is being planned as the Stabroek Block’s first gas-focused development with startup targeted for 2030.
The proposed Haimara Project is also progressing, with an application for environmental authorisation submitted and public scoping meetings completed during the first half of 2026. Production there is expected to begin in the early 2030s.
