Hess: Guyana Continues To Get ‘Bigger And Better’

The resources estimate for the Stabroek Block has increased to more than 6 billion barrels of oil equivalent.

Liza Phase 1 offshore Guyana is on track to deliver first oil by first-quarter 2020. (Source: Shutterstock.com)

Liza Phase 1 offshore Guyana is on track to deliver first oil by first-quarter 2020. (Source: Shutterstock.com)

Hess Corp., a partner in the Exxon Mobil Corp.-driven exploration effort that has led to 13 oil and gas discoveries offshore Guyana, has increased the estimated gross discovered recoverable resources on the Stabroek Block to more than 6 billion barrels of oil equivalent (Bboe).

The higher estimate, up from 5.5 Bboe, comes amid ongoing exploration and appraisal (E&A) activity on the block and after three discoveries were made this year. That is enough to put at least five FPSOs to work producing more than 750,000 gross barrels of oil per day (bbl/d) by 2025.

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Velda Addison

Velda Addison is the senior editor of digital media for Hart Energy’s editorial team. She covers energy with a focus on renewables.