June 16, 2017 / 1:35 PM / 2 months ago

BRIEF-Hess Corp and its partners plan to continue exploration and appraisal of Stabroek block​

June 16 (Reuters) - Hess Corp

* Hess Corp - ‍in 2017 and 2018, Hess and its partners plan to continue exploration and appraisal of 6.6 million acre Stabroek block​

* Has sanctioned first phase of development of Liza field located on Stabroek block offshore Guyana

* First phase of a planned multiphase development of Liza field is expected to have a gross capital cost of approximately $3.2 billion

* Hess Corp - Hess' net share of development costs is forecast to be approximately $955 million relating to Liza field​ project

* Hess - first phase of planned multiphase development of Liza field will develop approximately 450 million barrels of oil, with first oil expected by 2020

* Hess Corp - gross discovered recoverable resources for Stabroek block are now estimated to be 2.0 billion to 2.5 billion barrels of oil equivalent Source text for Eikon: Further company coverage:

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