Chief Executive Officer (CEO) of Hess Corporation, John Hess, recently disclosed to investors that not only is first oil in Guyana expected in December 2019, but peak production can be expected in three to four months.
This was revealed during the company’s third-quarter earnings call. The official said that Liza Phase One will produce at peak, 120,000 gross barrels of oil per day utilizing the Liza Destiny Floating Production Storage and Offloading (FPSO) vessel which arrived in Guyana on August 29, last.
With respect to drilling of the Liza Phase One development wells by the Noble Bob Douglas drillship, the CEO said that this is proceeding to plan while adding that subsea installation is nearly complete.
As for the Liza Phase Two project which was sanctioned in May of this year, Hess said that it will utilize the Liza Unity FPSO, which will have a gross production capacity of 220,000 barrels of oil per day and will develop approximately 600 million barrels of oil.
The official said, “The hole is nearing completion and is expected to sail to the Keppel yard in Singapore by year-end where the topside modules will be installed and the vessel commissioned. Also, development drilling of Liza Phase Two will commence in the first quarter of 2020 with first oil expected by mid-2022.”
Pending government approvals, Hess said that a third development at the Payara on the Stabroek Block is planned to utilize an FPSO with a gross production capacity of 220,000 barrels of oil per day and is expected to achieve first oil in 2023.