The Stabroek Block, located approximately 120 miles offshore Guyana, covers an area of 6.6 million acres (26,800 square kilometers).
The block is equivalent in size to 1,150 Gulf of Mexico blocks and contains multiple prospects and play types representing additional multi-billion barrel unrisked exploration potential. Esso E&P Guyana Ltd is the operator and has a 45 percent working interest, while Hess Guyana Exploration Ltd has 30 percent interest and CNOOC Petroleum Guyana Limited has 25 percent interest.
Gross discovered recoverable resources for the Stabroek Block, including 15 discoveries through year-end 2019 are currently estimated at more than 8 billion barrels of oil equivalent with multi-billion barrels of additional exploration potential on the block. A 16th discovery on the block at Uaru in January 2020 will be incremental to this resource estimate.
The Liza Phase 1 development delivered first production in December 2019. Liza Phase 1 will produce up to 120,000 gross barrels of oil per day at peak rates utilizing the Liza Destiny floating production, storage and offloading (FPSO) vessel.
The second phase of the Liza development, sanctioned in May 2019, will utilize a second FPSO with gross production capacity of approximately 220,000 barrels of oil per day, with start-up expected by mid-2022. Planning is underway for a third phase of development at the Payara Field.
Source: Hess Corporation