Government of Saint Lucia and HESS Corporation strike a deal

ST.LUCIA – Saint Lucia’s long running relationship with HESS Corporation may have realized its biggest gesture of confidence yet, with the re- visitation of a 1977 agreement signed between the corporate giant and the Caribbean island some thirty years ago.

Prime Minister Sir John Compton, Acting Prime Minister Honourable Stephenson King and other members of cabinet joined HESS OIL officials on Tuesday, July 24th at the official residence of the Prime Minister at Vigie, where the signing took place.

Chairman of the Board and CEO of HESS Corporation John Hess (son of deceased Leon Hess) said the agreement heralds a new chapter in an old relationship with the country. He said the cooperation started by Sir John and his father is a tradition he is happy to continue.

Signing to Agreement between Hess Oil and the Government of Saint Lucia

“ We’re honored to have had thirty years of business here. The terminal that we have for oil transshipment started in business in 1981 and it continues in business today. The special agreement that we have now, we’re honored to extend at least for 50 years, and have it be the foundation not only for an oil transshipment terminal, but gives us the economic framework to attract hopefully a partner for a world class merchant oil refinery which is very much needed in the world today,” he said.

Acting Prime Minister Honourable Stephenson King said HESS Corporation has remained a steadfast partner in the development of Saint Lucia’s human resource.

“Throughout our country there are landmarks; there are signatures of the green and white which represent HESS in this country, and therefore your cooperation has made a significant contribution not only to our economic development and advancement but also to our educational fabric; notably the many children who received an education by your building of schools throughout the country in some of the remotest communities,” Mr. King said.

The new cooperation agreement between the Government of Saint Lucia and HESS Corporation has a life of some 50 years.

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