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OIL
Drilling results expected this month could add a seventh platform in Guyana, which would lift the country’s oil output above the planned 1.2mbpd, according to Hess Corp.
- Hess Corp, part of the Exxon Mobil Corp-led consortium that controls all production in Guyana, so far has confirmed plans for six floating production vessels in Guyana.
- The 2022 Fangtooth offshore oil discovery is big enough to potentially require a platform for itself, which would be Guyana's seventh, Hess Corp Chief Executive Office John Hess said.
- Oil output projects for the six platforms are estimated at 1.2mbpd by 2027, while Exxon Mobil estimated output at 850kbpd.
- Guyana currently has two operating platforms production 360kbpd of oil.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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