Hess Announces First Production from Payara Development, Offshore Guyana
14 Novembro 2023 - 10:10AM
Business Wire
- Payara is the third of multiple oil developments planned on
the Stabroek Block, adding 220,000 gross barrels of oil per day of
production capacity
- Production capacity on the block increased to approximately
620,000 gross barrels of oil per day
Hess Corporation (NYSE: HES) today announced startup of
production from the Payara development on the Stabroek Block
offshore Guyana, utilizing the Prosperity floating production,
storage and offloading (FPSO) vessel. The Prosperity is expected to
reach its initial production of 220,000 gross barrels of oil per
day over the first half of 2024 as new wells are brought online.
Production capacity on the Stabroek Block is now approximately
620,000 gross barrels of oil per day.
The Prosperity FPSO arrived in Guyana in April 2023. It is
moored in water depth of about 6,300 feet and will develop an
estimated resource base of more than 600 million barrels of
oil.
“We are proud to be a partner in the successful development of
this world class oil resource for the benefit of the people of
Guyana and all other stakeholders and congratulate ExxonMobil as
operator for outstanding project execution,” CEO John Hess said.
“The world will need these low cost oil resources to meet future
energy demand and help ensure an affordable, just and secure energy
transition.”
The Liza Phase 1 and Liza Phase 2 developments began producing
in December 2019 and February 2022 respectively, and together have
a production capacity of approximately 400,000 gross barrels of oil
per day. Yellowtail and Uaru, the fourth and fifth projects, are in
progress and will each have a production capacity of approximately
250,000 gross barrels of oil per day. The operator is currently
working with the government of Guyana to secure regulatory
approvals for a sixth project at Whiptail.
In total, six FPSOs with a gross production capacity of more
than 1.2 million barrels of oil per day are expected to be online
on the Stabroek Block by the end of 2027, with the potential for up
to 10 FPSOs to develop the estimated gross discovered recoverable
resources of more than 11 billion barrels of oil equivalent.
The Stabroek Block is 6.6 million acres. ExxonMobil Guyana
Limited is operator and holds 45 percent interest in the Stabroek
Block. Hess Guyana Exploration Ltd. holds 30 percent interest and
CNOOC Petroleum Guyana Limited holds 25 percent interest.
Hess Corporation is a leading global independent energy company
engaged in the exploration and production of crude oil and natural
gas. More information on Hess Corporation is available at
www.hess.com.
This news release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Words such as “anticipate,” “estimate,” “expect,”
“forecast,” “guidance,” “could,” “may,” “should,” “would,”
“believe,” “intend,” “project,” “plan,” “predict,” “will,” “target”
and similar expressions identify forward-looking statements, which
are not historical in nature. Our forward-looking statements may
include, without limitation, the expected number, timing and
completion of our development projects and estimates of capital and
operating costs for these projects; estimates of our crude oil and
natural gas resources and levels of production; and our future
financial and operational results. Forward-looking statements are
based on our current understanding, assessments, estimates and
projections of relevant factors and reasonable assumptions about
the future. Forward-looking statements are subject to certain known
and unknown risks and uncertainties that could cause actual results
to differ materially from our historical experience and our current
projections or expectations of future results expressed or implied
by these forward-looking statements. The following important
factors could cause actual results to differ materially from those
in our forward-looking statements: fluctuations in market prices or
demand for crude oil, NGLs and natural gas, including due to
COVID-19, competing or alternative energy products and political
conditions and events; potential failures or delays in increasing
oil and gas reserves, including as a result of unsuccessful
exploration activity, drilling risks and unforeseen reservoir
conditions, and in achieving expected production levels; changes in
laws, regulations and governmental actions applicable to our
business, including legislative and regulatory initiatives
regarding environmental concerns, such as measures to limit
greenhouse gas emissions and flaring as well as fracking bans; the
ability of our contractual counterparties to satisfy their
obligations to us, including the operation of joint ventures which
we may not control and exposure to decommissioning liabilities for
divested assets in the event the current or future owners are
unable to perform; unexpected changes in technical requirements for
constructing, modifying or operating exploration and production
facilities and/or the inability to timely obtain or maintain
necessary permits; potential disruption or interruption of our
operations due to catastrophic events, including COVID-19 or
climate change; risks and uncertainties associated with our
proposed merger with Chevron Corporation; and other factors
described in Item 1A—Risk Factors in our Annual Report on Form 10-K
and any additional risks described in our other filings with the
Securities and Exchange Commission. As and when made, we believe
that our forward-looking statements are reasonable. However, given
these risks and uncertainties, caution should be taken not to place
undue reliance on any such forward-looking statements since such
statements speak only as of the date when made and there can be no
assurance that such forward-looking statements will occur and
actual results may differ materially from those contained in any
forward-looking statement we make. Except as required by law, we
undertake no obligation to publicly update or revise any
forward-looking statements, whether because of new information,
future events or otherwise.
We use certain terms in this release relating to resources other
than proved reserves, such as unproved reserves or resources.
Investors are urged to consider closely the oil and gas disclosures
in Hess Corporation’s Form 10-K, File No. 1-1204, available from
Hess Corporation, 1185 Avenue of the Americas, New York, New York
10036 c/o Corporate Secretary and on our website at www.hess.com.
You can also obtain this form from the SEC on the EDGAR system.
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version on businesswire.com: https://www.businesswire.com/news/home/20231113181131/en/
Investor: Jay Wilson (212) 536-8940 jrwilson@hess.com
Media: Lorrie Hecker (212) 536-8250 lhecker@hess.com
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