Hess Corporation recently confirmed that its gross sum of its recoverable resource estimate for Stabroek Block offshore Guyana has increased to nearly 11 billion barrels of oil equivalents following three new discoveries on the block, a press release reported.
“These new discoveries further demonstrate the extraordinary resource density of the Stabroek Block and will underpin our queue of future development opportunities,” CEO John Hess said. “We look forward to continuing to work with the Government of Guyana and our partners to realize the remarkable potential of this world class resource for the benefit of all stakeholders.”
The findings, known as Barreleye, Lukanani and Patwa, were announced at the heels of the discoveries made in Fangtooth and Lau Lau earlier this year.
The Barreleye well, described in a press release to measure approximately 230 feet of sandstone reservoirs, contains 52 feet of high-quality oil bearings. Located 20 miles southeast of the Liza Field, the well was drilled in 3,840 feet of water.
The Lukanani, spanning 115 feet, is said to surpass the Barreleye’s sum of high-quality oil bearing by more than 20 feet, at 76 feet. Located on the southeastern section of the block, the well was drilled in water depth of 4,068 feet.
Drilled at 6,315 feet, the Patwan, on the other hand, encountered 108 feet of hydrocarbon bearing sandstone reservoirs, and is located on the northwest end of the block.
Through its collaboration with various partners, Hess currently oversees four sanctioned developments on the 6.6 million-acre Stabroek Block, including the The Liza Phase 1 development, which began production just under three years ago holding a capacity of approximately 120,000 gross barrels of oil per day. The venture recently expanded its production capacity to more than 140,000 gross barrels of oils per day.
Its Phase 2 development project, which began in February of this year, is expected to reach a production capacity of 220,000 gross barrels of oil per day by the third quarter. Payara, the third development, is scheduled to begin operating in late 2023, and the fourth development, Yellowtail is scheduled for 2025.
In addition to the launches, a minimum of six FPSOs with a capacity to produce 1 million gross barrels of oil per day are also expected to be online on the block by 2027.