Global and Regional MarketsNewsThe Offshore Frontier

Hess starts production from Payara Development offshore Guyana

Hess Corp has begun production from the Payara development on the Stabroek Block offshore Guyana, utilizing the Prosperity floating production, storage and offloading (FPSO) vessel. The Prosperity is expected to reach its initial production of 220,000 gross bbl/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 bbl/day.

The Prosperity FPSO arrived in Guyana in April 2023. It is moored in water depth of about 6,300 ft and will develop an estimated resource base of more than 600 million bbls of oil.

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 bbl/day. Yellowtail and Uaru, the fourth and fifth projects, are in progress and will each have a production capacity of approximately 250,000 gross bbl/day. The operator is currently working with the government of Guyana to secure regulatory approvals for a sixth project at Whiptail.

In total, six FPSOs with a gross production capacity of more than 1.2 million bbl/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 BOE.

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