Wednesday, September 27, 2023

Stabroek co-venturers pushing Guyana to be regional, logistical powerhouse – Hess

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Hess Corporation’s Chief Executive Officer (CEO), John Hess has lauded the Guyana government for being pro-business, and accelerating investments so that oil revenues can be used to lift the nation’s standard of living.

But equally important for Hess and its partners, ExxonMobil Guyana and CNOOC, is helping the South American country find the right connections regionally and internationally to morph into a model State; a logistical powerhouse for the region.

During his participation at the Bernstein’s 38th Annual Strategic Decisions Conference on Thursday, Hess expounded on the objectives of the Stabroek Block partners in helping Guyana to achieve the foregoing goal.

The CEO said, “The country two years ago had the gross domestic product (GDP) per capita of Jordan and in the next five years, it will have GDP per capita superior to Brazil,” he said. “So, Hess and ExxonMobil as well are working hard with the country to help them help themselves and to build a sustainable economic proposition. We worked and encouraged them to work with economist Michael Porter independently of us to have a country development plan focused on human development.”

Team led by Harvard Professor helping Guyana shape landmark development plan

He added, “This plan is really focused on education, health care, infrastructure development which includes answering key questions like how to tie Brazil to the Caribbean with a deep-water port and also have a regional tie and a corridor economically with Suriname to make Guyana a regional centre and logistical powerhouse in the Northern part of South America.”

Hess said Guyana now has such a development plan in place and is in the process of implementing it. Additionally, he told attendees that Exxon is working with the government to build a Gas-to-Energy project. OilNOW has reported that this transformational project should come on stream in 2024 and give Guyana a lower carbon footprint while reducing the nation’s cost of energy.

Guyana seeking Exxon’s full support for country’s low carbon push | OilNOW

As for Hess, the CEO said Guyana has been put in contact with Mount Sinai Hospital. Hess said, “I happen to be on the Board, and they have an international practice. They will now work with Guyana to help deliver a modernised health care system. Hess believes in social responsibility and making a positive impact and the partners are determined to help Guyana be a model state, but we are still early in the journey.”

Pace of Guyana’s oil and gas development ‘unprecedented’ – Routledge | OilNOW

President Dr. Mohamed Irfaan Ali recently said that discussions were held virtually with representatives from Mount Sinai Health Systems on improving Guyana’s primary healthcare system. He said the Government of Guyana and the renowned New York-based health system have had numerous discussions over the last year.

At the meeting, President Ali said he wanted the outcome to be a clearly defined path with set timelines.

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