NEW YORK – Hess has reached an agreement with ExxonMobil to acquire a 15% interest in the Kaieteur block offshore Guyana.
The transaction has already gone through, with the Guyanese government’s support.
The block is 155 mi (250 km) offshore and adjacent to theStabroek block, where the two companies already work together, and extends across 3.3 million acres (13,535 sq km).
This year’s work program includes processing and interpretation of 5,700 sq km (2,201 sq mi) of 3D seismic data and assessment of future drilling.
Kaieteur is in the same geological basin as the prolific Stabroek, where the partners have to date proven more than 3.2 Bboe.