Hess CEO Eyes 10 FPSOs In The Stabroek Block

(Energy Analytics Institute, 29.Oct.2020) — Hess Corporation CEO John Hess announced estimated resources offshore Guyana in the Stabroek Block were approximately 9 billion barrels of oil equivalent, and potentially requiring 10 floating production storage and offloading (FPSO) units to develop them.

“Incorporating the current assessment of additional volumes from the Redtail, Yellowtail-2, and Uaru discoveries, we are increasing the estimate of gross discovered recoverable resources for the Stabroek Block to approximately 9 billion barrels of oil equivalent,” Hess said 28 October 2020 during the company’s third quarter conference call with analysts.

Initial oil from the recently sanctioned Payara project — the company’s third project offshore with operator Exxon and China’s CNOOC — is expected in 2024, while five FPSOs on the Stabroek Block are needed to produce more than 750,000 gross barrels of oil per day there by 2026, Hess said.


By Ian Silverman. © Energy Analytics Institute (EAI). All Rights Reserved.