500 Million Barrels of Oil Produced from Guyana’s Stabroek Block

Industry leading milestone achieved in under five years

Guyana's Stabroek Block reached a significant production milestone this week - 500 million barrels of oil produced less than five years after Guyana became an oil-producing nation.

"We are proud to be a partner in the successful development of this world class oil resource at an industry leading pace, cost and environmental performance," said Clare Gardner, Hess Vice President Guyana & Suriname, Global Exploration. "We look forward to continuing to work with our partners and the Government of Guyana to realize the full potential of the Stabroek Block for the benefit of the people of Guyana and all other stakeholders. The world will need these low-cost oil resources to meet future energy demand and help ensure an affordable, just and secure energy transition."

Hess, ExxonMobil Guyana and CNOOC have committed nearly US $55 billion to develop six government-sanctioned developments on the Stabroek Block, offshore Guyana. The first three projects - Liza Phase 1, Liza Phase 2 and Payara - are averaging more than 650,000 barrels of oil per day in production. Plans are in place to grow production capacity to more than 1.3 million barrels of oil per day by the end of 2027, when all six developments are expected to be up and running.

Oil production will generate tens of billions of dollars of revenue and significant economic development for Guyana. Since first production in 2019, more than US $5.4 billion in oil revenues and royalties have been paid into the Guyana Natural Resource Fund. More than 6,000 Guyanese support the Stabroek Block operations, which is nearly 70% of the industry workforce locally.

The Stabroek Block is 6.6 million acres. ExxonMobil affiliate ExxonMobil Guyana Limited is operator and holds 45% interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30% interest, and CNOOC Petroleum Guyana Limited holds 25% interest.

Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at www.hess.com.

Cautionary Statements

This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "anticipate," "estimate," "expect," "forecast," "guidance," "could," "may," "should," "would," "believe," "intend," "project," "plan," "predict," "will," "target" and similar expressions identify forward-looking statements, which are not historical in nature. Our forward-looking statements may include, without limitation, the expected number, timing and completion of our development projects and estimates of capital and operating costs for these projects; estimates of our crude oil and natural gas resources and levels of production; and our future financial and operational results. Forward-looking statements are based on our current understanding, assessments, estimates and projections of relevant factors and reasonable assumptions about the future. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. The following important factors could cause actual results to differ materially from those in our forward-looking statements: fluctuations in market prices or demand for crude oil, natural gas liquids and natural gas, including due to competing or alternative energy products and political conditions and events; potential failures or delays in increasing oil and gas reserves, including as a result of unsuccessful exploration activity, drilling risks and unforeseen reservoir conditions, and in achieving expected production levels; changes in laws, regulations and governmental actions applicable to our business, including legislative and regulatory initiatives regarding environmental concerns; the ability of our contractual counterparties to satisfy their obligations to us, including the operation of joint ventures which we may not control; unexpected changes in technical requirements for constructing, modifying or operating exploration and production facilities and/or the inability to timely obtain or maintain necessary permits; potential disruption or interruption of our operations due to catastrophic and other events, including climate change; risks and uncertainties associated with our proposed merger with Chevron Corporation; and other factors described in Item 1A-Risk Factors in our Annual Report on Form 10-K and any additional risks described in our other filings with the Securities and Exchange Commission. As and when made, we believe that our forward-looking statements are reasonable. However, given these risks and uncertainties, caution should be taken not to place undue reliance on any such forward-looking statements since such statements speak only as of the date when made and there can be no assurance that such forward-looking statements will occur and actual results may differ materially from those contained in any forward-looking statement we make. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.

We use certain terms in this release relating to resources other than proved reserves, such as unproved reserves or resources. Investors are urged to consider closely the oil and gas disclosures in Hess Corporation's Form 10-K, File No. 1-1204, available from Hess Corporation, 1185 Avenue of the Americas, New York, New York 10036 c/o Corporate Secretary and on our website at www.hess.com. You can also obtain this form from the SEC on the EDGAR system.

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