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Hess acquires interest in Kaieteur block offshore Guyana

Apr 27, 2018 News

Guyana (Oil and Gas Journal)- Hess Corp. subsidiary Hess Guyana (Block B) Exploration Ltd. will acquire a 15% participating interest in the Kaieteur block offshore Guyana from ExxonMobil Corp. affiliate Esso Exploration & Production Guyana Ltd.

The work programme in 2018 will include processing and interpretation of about 5,700 sq km of 3D seismic data and evaluation of a future drilling programme, the company said.

“Our interest in the Kaieteur block extends our company’s already significant acreage position in the prolific Guyana-Suriname basin, which has delivered seven world-class oil discoveries to date,” said Chief Executive Officer John Hess (OGJ Online, Feb. 28, 2018).

The 13,535-sq-km Kaieteur block lies 250 km offshore Guyana, adjacent to and in the same geological basin as the Stabroek block, where more than 3.2 billion boe in total recoverable resources have been discovered to date, the company noted. Hess has a 30% working interest in the Stabroek block.

Guyana has provided Hess and ExxonMobil an instrument detailing the transfer of interest, which has been completed.

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