Continually growing international recognition of the size and commercial significance of Guyana’s recently unearthed oil and gas resources has again been reflected, this time, in this week’s announcement days by the United States-based global energy company Hess that the country could attract the lion’s share of its US$3 billion exploration and production budget for 2020.
On Wednesday Hess announced that it will be targeting projects in Guyana and the Bakken oilfields in Eastern Montana and Western Dakota for exploration and production pursuits in 2020. The two locations are expected to attract more than 80 per cent of the investment.
Hess’ net oil production for this year is expected to average between 330,000 and 335,000 barrels of oil equivalent per day this year.
