Hess Announces 10th Discovery and Increased Stabroek Block Resource Estimate Offshore Guyana

Hess announced a tenth discovery offshore Guyana at the Pluma-1 well on the Stabroek Block. As a result of this new discovery and further evaluation of previous discoveries, the estimate of discovered recoverable resources for the Stabroek Block has been increased to more than 5 billion barrels of oil equivalent, up from the previous estimate of more than 4 billion barrels of oil equivalent announced in July 2018.

“Guyana is a truly world class investment opportunity with multi billion barrels of additional exploration potential,” CEO  John Hess  said. “The growing resource base on the Stabroek Block further underpins the potential for at least five FPSOs producing more than 750,000 barrels of oil per day by 2025.”

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