Hess Corporation | Worldwide Oil & Gas Exploration
hess operations header image
Hess Corporation Logo header



Multiple Prospects and Play Types Offshore Guyana

The Stabroek Block, located approximately 120 miles offshore Guyana, is 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 multibillion 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 Nexen Petroleum Guyana Ltd. has 25 percent interest.

02-28-18_Guyana-Map02_1008x567 (5)

To date, seven significant discoveries have been made on the block. The first five -- Liza, Payara, Snoek, Liza Deep and Turbot -- are currently estimated to have total recoverable resources of more than 3.2 billion barrels of oil equivalent. Discoveries at Ranger-1, announced January 2018, and Pacora-1, announced February 2018, are accretive to this estimate. In addition, Hess and its co-venture partners believe there are multi-billion barrels of additional exploration potential on the block.

Hess and its co-venture partners sanctioned the first phase of a planned multiphase development of the Liza Field in mid-2017, with first production expected by 2020. Further exploration and appraisal drilling will continue during 2018. A second phase of development is expected to be sanctioned by the end of 2018, with first production by mid-2022.

In April 2018, Hess acquired a 15 percent interest in the Kaieteur Block, located approximately 155 miles (250 kilometers) offshore and adjacent to the Stabroek Block. The Kaieteur Block covers 3.3 million acres (13,535 square kilometers). Seismic interpretation and evaluation of a future drilling program are planned for 2018.

Suriname Map

Pursuing Play Extension in Suriname

In 2016, Hess Suriname Exploration Limited, a wholly-owned subsidiary of Hess Corporation, acquired a one-third non-operated interest in the Block 42 contract area, which is located offshore Suriname along the northeast margin of South America. Kosmos Energy is the operator and has 33.3 percent working interest, while Hess Suriname Exploration Ltd. and Chevron Corporation each have 33.3 percent interest. 3-D seismic has been acquired and is being interpreted.

Deepwater Block 59, which is to the north and contiguous to Block 42, was awarded to Hess and co-venture partners ExxonMobil and Statoil in 2017. Each have a one-third interest and Exxon is the operator. In 2018, seismic acquisition is planned.

Hess Exploration Drilling in Nova Scotia

An Emerging Play in Nova Scotia

Hess has partnered with operator BP to explore four deepwater licenses offshore Nova Scotia, which combined are equal in size to 600 deepwater Gulf of Mexico OCS blocks. Although a frontier area, based on 3D seismic data the geology appears analogous to deepwater Gulf of Mexico. Exploration drilling is currently planned to commence in 2018. Hess has a 50 percent working interest.