NOV Wins ExxonMobil Guyana Contract for Hammerhead Subsea System [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
The award strengthens NOV's position in deepwater subsea technologies as Guyana continues to emerge as one of the world's most important offshore oil provinces. ExxonMobil operates the Stabroek Block with a 45% interest, alongside partners Hess — formerly holding a 30% stake, now owned by Chevron — and CNOOC, which holds the remaining 25%. Together, the group expects Guyana's output to top 1.7 million barrels per day by 2030, with total hydrocarbon capacity approaching two million barrels of oil equivalent per day. Under the contract, NOV, currently carrying a Zacks Rank #3 (Hold), will handle the full scope of work, including design, engineering, procurement, fabrication and testing. The system is expected to include four actively heated risers and production flowlines spanning about 14.4 kilometers, along with latching mechanisms, bend stiffeners, buoyancy modules and supporting topside equipment. The solution combines NOV's Optiflex flexible pipe technology with active heatin
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