01.19.2017
Offshore Engineer has published an in-depth profile of the Stampede deepwater development project highlighting how Hess’ strategic focus on safety has been key to delivering successful project execution.
“Hess is dedicated to bringing its Stampede project online on-time and on-budget, with safety being the key to success,” the article said.
Scheduled to be online during 2018, the Hess-operated Stampede development project is one of only a few mega projects in development in the US Gulf of Mexico (GoM) and is one of the largest undeveloped fields in the GoM.
Only one in five mega projects come within 10 percent of budget and schedule industry-wide. Stampede is on track to be one of them, despite the low oil price environment where value creation is difficult to achieve, said Stephen Whitaker, project director-Stampede Development, during a luncheon hosted by the Marine Technology Society in Houston in August 2016.
“Hess has a strong commitment to deliver top quartile performance in safety, quality, delivery and cost at the corporate level, and we embrace that commitment on the Stampede project,” Whitaker said. “Safety and the environment is our first priority at Stampede and across Hess; if we deliver on safety and with quality, cost and delivery will be successful outcomes.”
Stampede is a joint development of the Knotty Head and Pony fields, discovered in 2005 and 2006, respectively. Stampede, spanning Green Canyon blocks 468, 511 and 512, is 115 miles south of Port Fourchon, Louisiana, in 3500 feet water depth and is estimated to hold 300-350 MMboe in gross recoverable resources in Miocene subsalt reservoirs.
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