Mako-1 well is located southeast of the Liza Field on the Stabroek Block; first production from the Liza Field commenced
Dec. 20, 2019
- Discovery adds to current resource estimate of more than 6 billion barrels of oil equivalent
Mako-1 encountered approximately 164 feet (50 meters) of a high-quality oil bearing sandstone reservoir. Mako-1, drilled in 5,315 feet (1,620 meters) of water, is located approximately six miles (10 kilometers) southeast of the Liza Field.
The Liza Phase 1 development achieved first oil on
The Liza Unity FPSO, which will be employed for the second phase of Liza development and will have a production capacity of 220,000 gross barrels of oil per day, is under construction and expected to start production in
Pending government approvals and project sanctioning of a third development, production from the Payara Field, located north of the Liza discoveries, could start as early as 2023, reaching an estimated 220,000 gross barrels of oil per day.
Drilling activities in
The Stabroek Block is 6.6 million acres (26,800 square kilometers).
This news release contains projections and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These projections and statements reflect the company’s current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that these projections will be achieved, and actual results could differ materially from those projected as a result of certain risk factors. A discussion of these risk factors is included in the company’s periodic reports filed with the
We use certain terms in this release relating to resources other than proved reserves, such as unproved reserves or resources. Investors are urged to consider closely the disclosure relating to proved reserves in Hess’ Form 10-K, File No. 1-1204, available from