Hess Announces 2021 E&P Capital and Exploratory Budget - Seite 2

• $25 million associated with the Liza Phase 1 development on the Stabroek Block in Guyana (Hess 30%), where production reached nameplate capacity of 120,000 gross barrels of oil per day in December 2020.
• $450 million for the Liza Phase 2 development with a capacity of up to 220,000 gross barrels of oil per day, with first production expected in early 2022.
• $235 million for the Payara development with a capacity of up to 220,000 gross barrels of oil per day, with first production expected in 2024.
• $70 million primarily for front end engineering and design work for future development phases on the Stabroek Block.

Exploration and Appraisal

• $450 million to drill 12-15 exploration and appraisal wells on the Stabroek Block in Guyana (Hess 30%). Funds are also included for well planning on Block 42 in Suriname (Hess 33.3%), seismic acquisition and processing in Guyana and the Deepwater Gulf of Mexico and for license acquisitions.

2021 Estimated Capital and Exploratory Expenditures

($ Millions)

 

By Segment:

 

By Region:

 

 

 

 

 

Exploration and Production

 

 

Exploration and Production

 

 

 

Production

$670

 

United States

$590

Developments

780

 

South America

1,125

Exploration and Appraisal

450

 

Asia and Other