Hess increases stake in Kaieteur Block, offshore Guyana : vi

Hess increases stake in Kaieteur Block, offshore Guyana
25 May 2021 (Last Updated May 25th, 2021 15:28)
Hess Corporation has increased its stake in Kaieteur Block, offshore Guyana, to 20%.
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The Tanager-1 well is currently considered to be non-commercial. Credit: Kevin Harris / Unsplash.
Hess Corporation has acquired an additional 5% stake in the Kaieteur Block, offshore Guyana, from Cataleya Energy for an undisclosed sum.
The transaction increased Hess Corporation’s working interest (WI) from 15% to 20% in the Kaieteur Block.
The acquisition follows the oil discovery at the Tanager-1 well, located in Kaieteur Block, in 2020.
Following drilling, the Tanager-1 well encountered 16m of net oil pay (20oAPI oil) in high-quality sandstone reservoirs of the Maastrichtian age.

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