Hess Corporation, a 30% stakeholder in Guyana’s Stabroek Block, anticipates regulatory approval for the Whiptail Project in early 2024. This was one of the key highlights in a slide show presented by the company on Thursday at the Barclays CEO Energy-Power Conference.
Hess’ Chief Executive Officer (CEO), John Hess provided a comprehensive update on his company’s performance to date while noting that activities at the Stabroek Block is on track to help deliver unparalleled revenue growth for shareholders. The CEO also noted that ExxonMobil (operator) and partners have five sanctioned projects, with Whiptail, the sixth, to soon follow.
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Pending receipt of environmental authorisation, the Environmental Impact Assessment (EIA) for the Whiptail Project states that the drilling campaign could potentially begin in 2024 for the purposes of accelerated subsurface data collection and optimal use of drillship time.
“The potential scope for 2024 drilling could include top-hole sections of up to eight wells, but likely no completions in the reservoir interval(s). In this case, wells would be temporarily plugged and re-entered for completion operations during the primary drilling campaign for the Project,” the report stated. The EIA which is being reviewed by the Environmental Protection Agency also states that drilling could extend as late as 2031 depending on the total number of wells drilled.
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Based on the results of initial feasibility and conceptual design studies, the EIA notes that preliminary front-end engineering and design (FEED) for the project is currently underway to be followed by detailed engineering. In support of this activity, the EIA states that various baseline data collection studies have been undertaken at the project site. “A preliminary schedule anticipates that FPSO and SURF (subsea umbilicals, risers, and flowlines) fabrication and installation will begin in early 2026 following the completion of engineering and will take approximately 2 years,” the report states, adding that development well drilling may also occur during this period.
Production levels at Whiptail are expected to be 250,000 barrels of oil per day (bpd) using a floating production, storage and offloading vessel. First oil is expected in late 2027 or 2028.
