Hess Reports Massive 52% Increase in Net Guyana Production

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PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 29.Jan.2025) — Hess Corporation reported net oil production offshore Guyana in the Stabroek Block of 195,000 barrels per day (b/d) in the fourth-quarter 2024 (4Q:24), compared with 128,000 b/d in the 4Q:23.

The higher production was primarily due to start-up of Payara, the third development in Stabroek, which commenced production in Nov. 2023, Hess said on 29 Jan. 2025 in an official statement.

In the 1Q:25, net production is Guyana is expected in the range of 180,000-185,000 b/d, reflecting planned maintenance at the Payara development and lower tax barrels of 9,000 b/d in the 1Q:25, Hess said.

More Stabroek developments to come

The fourth development, Yellowtail, was sanctioned in Apr. 2022 with a production capacity of 250,000 gross b/d. There, first production is expected in the 4Q:25. 

The fifth development, Uaru, was sanctioned in Apr. 2023 with a production capacity of  250,000 gross b/d. There, first production is expected in 2026. 

The sixth development, Whiptail, was sanctioned in Apr. 2024 and is expected to add production capacity of 250,000 gross b/d by the end of 2027. 

The application for the environmental permit for the seventh development, Hammerhead, has been filed with Guyana’s Environmental Protection Agency. And, pending government and regulatory approval and project sanctioning, the development is expected to have a production capacity in the range of 120,000-180,000 gross b/d. There, first oil anticipated in 2029.

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By Piero Stewart reporting from Panama City. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.

ENERGY ANALYTICS INSTITUTE (EAI) https://energy-analytics-institute.org

Energy Analytics Institute (EAI), formerly LatinPetroleum.com, is a Houston-established private organization with a satellite presence in Calgary, Mexico City and Venezuela where it operates under Editores LatinPetroleum SA. Since 1999, EAI has been a leader in energy news coverage of Latin America in particular. Coverage, run out of Latin America, now spans the world and encompasses nearly all energy and energy-related sectors.

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