Hess Corporation’s Chief Executive Officer (CEO), John Hess says the Irfaan Ali led administration is on the right path to ensure Guyana’s multi-billion barrel oil wealth leads to positive transformation.
Speaking at a Goldman Sachs Energy Conference yesterday, Hess said the Ali government has told the partners that it is supportive of accelerated oil development but it must be done in an environmentally sound manner. He said, too, that the government has demanded that operations are cost effective.
Hess said the partners are in agreement with the standards set by the government while adding that it wants to see Guyana become a model for others to follow.
Hess said it is for this reason that his company and ExxonMobil are supporting independent work being done by Professor Michael Porter of the Harvard Business School who is part of a project team in Georgetown to assist the government with a development plan for the sector.
Hess revealed that the plan would speak to capacity boosting for health care, education and infrastructure.
“Hopefully, five to 10 years from now, we will be looking at Guyana as a role model for how to develop oil resources responsibility. We as a company believe in social responsibility and want to do our fair share to contribute to that exemplary development,” the CEO expressed while adding “The leadership of the country is on the right path to transform the country in a positive way.”
The Hess CEO said the Stabroek Block partners  are not just interested in leaving an economic legacy behind that speaks to discoveries and massive developments offshore but they also want a social legacy that involves helping Guyana get oil and gas right. “Such a legacy is even more enduring and sustainable,” he concluded.


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