Hess is ramping up production in Guyana
Hess set for more Guyana benefits
The Stabroek block’s impact on the US independent’s business is only set to grow
The sheer scale of the ramp-up of oil production in Guyana can perhaps be obscured by looking at it through the lens of ExxonMobil, operator and 45pc stakeholder in the Stabroek block. Lacking the scale of a major, its transformative effect on New York-headquartered producer Hess, a 30pc partner in the field, is more apparent. Hess predicts that, having sold 2.3mn bl of oil from Guyana in the first quarter, it will have seven 1mn bl liftings in the second quarter—or an increase of over 130pc. Exports will rise further to eight 1mn bl liftings in both the third and fourth quarters. “This ramp in liftings from Guyana is expected to result in significant cash flow growth over the next three qua
Also in this section
1 April 2025
There is method to the US president’s apparent madness, and those seeking to understand need look no further than their local bookshop
1 April 2025
Strong economic growth targets are encouraging for the country’s energy demand growth, even if meeting those goals might be a tall order
28 March 2025
The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
28 March 2025
MCEDD 2025 took place in Madrid this week with record attendance and a wide-ranging programme, reflecting the deepwater sector’s renewed momentum, strategic focus and accelerating technological innovation.
