Investment

Hess Announces First Production from Payara, Offshore Guyana — Energy Comment

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By Susan Solan


Hess said it has started production from the Payara development on the Stabroek Block offshore Guyana, with the floating production, storage and offloading vessel Prosperity.


On production boost in Payara:

Hess said 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.”

On production in other areas:

Hess said, “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 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.”


Write to Susan Solan at [email protected]


Read the full article here

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