EITI countries
GuyanaSuriname

Hess

Founded as Hess Incorporated in 1933, Hess Corporation has grown from a small residential fuel oil delivery service to a leading independent energy company engaged in the exploration and production of crude oil and natural gas. The company has an industry-leading position in a key U.S. shale play, the Bakken in North Dakota. Hess is also one of the largest producers in the deepwater Gulf of Mexico and a key natural gas producer and supplier to Peninsular Malaysia and Thailand. The company is engaged in exploration and appraisal activities offshore Guyana.
Supporter since 2004

Statement of support

Hess supports revenue transparency through participation in the Extractive Industries Transparency Initiative (EITI), a voluntary multi-stakeholder group initiative that includes oil and mining companies, governments, civil society groups, international non-governmental organizations and investors. As a supporting company of the EITI since 2004, Hess endorses the initiative’s objective to improve governance through transparency of company payments to governments and supports the EITI’s efforts to attract more countries.

Engagement with the EITI

Hess Corporation has provided data to the EITI upon request. In EITI member countries where Hess has invested, operations will be maintained by Hess' joint venture partners. The company's joint ventures operations in Guyana and Suriname remain in the exploration phase. There is currently no extraction or production of oil and/or gas in Suriname. In Guyana, the Liza Phase 1 development delivered the first production in December 2019.

Hess was pleased that the EITI Board approved both Guyana's and Suriname's candidature applications in 2017 and the company continues to be supportive of all countries where it conducts business to join the EITI.

Strengthening transparency

Hess Corporation's annual sustainability reports, which details its strategy and performance on significant safety, environmental, social and governance programs and initiatives are available here

To comply with EITI revenue reporting and disclosure requirements in countries where the company operates, Hess discloses requested payments based on accounts audited to international standards. In EITI implementing countries where the company has equity interests but is not the operator, Hess complies with the disclosure practices of the operating company as well as country laws and regulations. More information on Hess' commitment to tax transparency can be found here. Hess' social responsibility policy is also available here

Link to the statement of support on Hess' website

Statement of support to the EITI on Hess' website