₦airaland Forum

New oil findings at a deeper layer offshore Guyana could add billions of barrels to what is already the world's largest oil discovery in 20 years, Hess (NYSE:HES) CEO John Hess said Thursday, according to Reuters.

"There are multi-billion barrels remaining on top of" the 11B barrels of oil and gas found so far in the offshore Stabroek block, the CEO said, noting the Exxon-led (NYSE:XOM) consortium, which made most of its 30-plus oil discoveries at depths of ~15K feet, has started to drill at 18K feet.

The Fangtooth discovery well drilled earlier this year at 18K feet, for example, could underpin another production unit on its own, said Hess, whose company owns a 30% stake in the group.

The Guyana projects are ahead of schedule, and Exxon's (XOM) third planned platform may now start production at Payara as soon as Q3 2023, Hess told the Bernstein Strategic Decisions conference, adding that the Guyana gusher will exempt the company from needing to make acquisitions to sustain higher dividends to shareholders.

https://seekingalpha.com/news/3845343-offshore-guyana-could-contain-billions-more-oil-barrels-hess-ceo-says

Now, watch as they rape and ruin Guyana

Anything to depend less on the rashists is welcomed.

Welcome in advance to the oil curse.

meobizy:
Welcome in advance to the oil curse.

The government claims they're trying to work to avoid that. Their population is pretty small and pretty educated, so you have to figure that things should be okay. I honestly think their biggest hurdle is the large Indian population.