Jan 24 (Reuters) – U.S. oil and gas producer Hess Corp (HES.N) on Tuesday forecast higher Exploration & Production (E&P) capital and exploratory budget of $3.7 billion for 2023, of which more than 80% will be allocated to Guyana and North Dakota’s Bakken shale field.
The company forecast 2022 E&P capital and exploratory expenditure of about $2.7 billion.
Hess is part of a consortium which includes Exxon Mobil Corp (XOM.N) that operates in Guyana, one of the world’s hottest oil drilling zones.
The oil and gas producer expects its net production to average between 355,000 and 365,000 barrels of oil equivalent per day (boepd) in 2023, compared with its 2022 forecast of 325,000 boepd.
Reporting by Sourasis Bose in Bengaluru; Editing by Vinay Dwivedi and Krishna Chandra Eluri
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