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- Two exploration wells to be drilled in January
- Growing Turbot area offers significant development options
- Liza Phase 1 development on track for first oil in early 2020
The Noble Tom Madden drillship will drill the second well, Tilapia-1, located three miles (five kilometers) west of the Longtail-1 discovery. The Tilapia-1 well is located in the growing Turbot area.
Operator
Preparations are underway for the commencement of pipe-laying activities
in the Liza field in the spring. The Liza Destiny FPSO is expected to
sail from
The growing resource base on the Stabroek Block underpins the potential for at least five FPSOs producing more than 750,000 barrels of oil per day by 2025. Liza Phase 2 is expected to start up by mid 2022. Pending government and regulatory approvals, project sanction is expected in first quarter 2019 and will use a second FPSO designed to produce up to 220,000 barrels per day. Sanctioning of a third development, Payara, is also expected in 2019 with start up as early as 2023.
Cautionary Statements
This news release contains projections and other forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. These
projections and statements reflect the company’s current views with
respect to future events and financial performance. No assurances can be
given, however, that these events will occur or that these projections
will be achieved, and actual results could differ materially from those
projected as a result of certain risk factors. A discussion of these
risk factors is included in the company’s periodic reports filed with
the
We use certain terms in this release relating to resources other than
proved reserves, such as unproved reserves or resources. Investors are
urged to consider closely the disclosure relating to proved reserves in
Hess’ Form 10-K, File No. 1-1204, available from
View source version on businesswire.com: https://www.businesswire.com/news/home/20190106005164/en/
Source:
Investors:
Jay Wilson
212-536-8940
jrwilson@hess.com
Media:
Lorrie Hecker
212-536-8250
lhecker@hess.com