Field Development

Hess Sees 1 Million Barrel a Day Oil Output from Guyana

Higher production from Guyana, considered a growth engine for Hess, also helped the company offset output declines this past quarter in North Dakota’s Bakken and Gulf of Mexico.

Arathy S Nair, Reuters

Wed, 10/27/2021 - 03:05 PM

Hess Corp. expects to produce more than 1 million gross bbl/d in Guyana by 2027 from at least six production units, the U.S. oil producer said on Oct. 27.

The projection comes shortly after a second floating production system arrived in the South American country’s waters.

Hess added that it sees potential for up to 10 floating systems to develop the discovered resources on the block. ExxonMobil had previously said it expects to have five units in operation in Guyana by 2026 and sees a potential for a total of seven to 10 units.

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Chart reflects yearly performance.

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