Hess CEO 'optimistic' new Guyana government will approve project license

Hess Corp's chief executive on Wednesday said he is optimistic the recently elected government of Guyana will issue soon a production license for the third phase of a major offshore oil project.

Hess and partners Exxon Mobil Corp and CNOOC Ltd are in "close communication" with officials, Hess said at a virtual presentation to the Barclays CEO Energy-Power conference. Production in the first phase will reach full, 120,000 barrels-per-day capacity in coming weeks, he said.