Even as the company plugs most of its US$3 billion capital and exploratory expenditures into its Guyana operations, Stabroek Block partner Hess, yesterday brushed off concerns about a possible renegotiation of the Production Sharing Agreement (PSA) that it has, along with ExxonMobil and CNOOC, with Guyana saying both government and opposition have signalled they will not renegotiate.
“Most of the news that you hear is not from reliable sources, neither the current government nor opposition government. I think they both have been pretty clear that they’re going to honour the PSC [PSA]. So I think that’s the real takeaway you should have,” Hess CEO and Director John Hess said yesterday.
He was at the time responding to a question from Barclays Bank PLC, Research Division-Research Analyst, Jeanine Wai, during the company’s Q4 2019 Earnings Conference Call, on recent headlines here about the potential for a contract renegotiation.
