Guyana is asserting its sovereignty over the vast Essequibo territory with Venezuela by naming its next floating production, storage and offloading (FPSO) vessel “Essequibo 1899.” This announcement was made by President Dr Irfaan Ali during his feature address at the Annual General Meeting of the Georgetown Chamber of Commerce and Industry (GCCI) last week.
“I’ve chosen a name for our next FPSO and it’s called Essequibo 1899 to refresh our memories of history,” President Ali stated.
The president underscored the importance of the name, tying it to the Essequibo region, more than two-thirds of Guyana’s landmass and the 1899 Arbitral Award that established the boundary with Venezuela. Caracas rejects that award and continues to claim the territory.
The move comes as the matter is before the International Court of Justice (ICJ), where Guyana is seeking a final determination on the validity of the 1899 Award, to put Venezuela’s claim to rest. The government expects it could come next year, with potential implications for offshore activity, including whether it lifts force majeure restrictions affecting operations on the western side of the Stabroek Block.
Previous FPSOs have reflected national aspirations and identity. Liza Destiny and Liza Unity draw from slogans in Guyana’s national motto, while Prosperity and One Guyana reference economic growth and social cohesion. More recent vessels, including Errea Wittu, an Indigenous term meaning abundance, and Jaguar, the national animal, broaden that theme.
The FPSO for the Hammerhead project is the last such vessel for Guyana which, up until Ali’s announcement, had not been named publicly. The one of several developments planned offshore Guyana as production expands. Hammerhead is currently targeted for startup in 2029, though Exxon has indicated it is exploring ways to accelerate that timeline to 2028.
The project is designed with an oil production capacity of about 150,000 barrels per day and natural gas output of roughly 90 million cubic feet per day. It will utilize a converted tanker as the hull for the FPSO.
ExxonMobil Guyana is already producing more than 900,000 barrels per day from four projects, with additional developments set to push capacity significantly higher. With Hammerhead at number seven, and other planned projects, total production capacity is expected to exceed 1.7 million barrels per day later this decade.