Evidence that Guyana’s now proven world class oil and gas resources continue to attract the attention of some of the world’s leading players in the industry has recently been underscored in the disclosure by Hess Corporation, one of the United States’ high-profile oil companies, earlier this week, that it will be allocating a huge slice of its 2023 US$3.7 billion capital and exploratory budget to exploratory work offshore Guyana.
The announcement comes just weeks before Guyana’s February 14th – 17th International Conference and which is expected to bring a retinue of international oil companies and experts to the country to further probe issues relating to the significance of the country’s only recently confirmed huge oil and gas resources and what those resources mean in the context of the wider global energy sector. Hess is part of a consortium of ‘big name’ oil and gas companies that includes the US’ global oil giant, ExxonMobil, that is currently operating in the Guyana drilling zone, which is currently one of the most talked-about global oil and gas hotspots.