Chief Executive Officer of Hess Corporation John Hess yesterday reiterated that Guyana is key to the Company’s long-term strategy with multiple phases of low cost oil developments to come online during the next several years.
Speaking at the Company’s second quarter earnings conference call, Hess pointed out that Guyana is positioned to become a significant cash engine with multiple projects expected to commence in the next several years. The company expects that this will drive their portfolio breakeven Brent oil price below $40 per barrel by the middle of the decade.