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 by the end of September 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.


Reuters | Updated: 09-09-2020 19:04 IST | Created: 09-09-2020 19:04 IST
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 by the end of September 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. Government approval of the Payara project this month would keep it on track for first oil in 2023, CE0 John Hess said.

Production in the first phase of the Liza project in Guyana will reach full, 120,000 barrels-per-day capacity in coming weeks, Hess said. It delivered first oil last December. The partners on Tuesday said they had made their 18th discovery offshore Guyana, one of the world's most important new oil and gas blocks in the last decade, with more than 8 billion barrels of oil and gas.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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