Guyana’s low cost oil resource continues to be key for Stabroek Block partner Hess, which on Wednesday said it foresees global commodity demand for decades to come, even as the company vowed to continue accelerated development as requested by the current government.
With the Liza Destiny Floating Production Storage and Offloading (FPSO) vessel already producing 10,000 barrels more than its announced maximum of 120,000 barrels of oil per day (bpd), plans are in train to ramp that amount up to 140,000 bpd by the end of this year, which will add to the 220,000 bpd expected from the second FPSO – Liza Unity. The Liza Unity is currently producing at 121,000bpd.
Altogether, Hess said that it anticipates twenty five (25) lifts this year at one (1) million barrels per lift, which would offset any capital increase and still leave significant cash flow.
