Hess Corporation reported on Wednesday improved net income of $515 million for the third quarter of 2022 on the back of an increase in year-on-year production, and gave information on new discoveries offshore Guyana and Suriname.

The quarterly net income was an improvement of $400 million over the same quarter in 2021.

The company, along with ExxonMobil, also announced two new discoveries offshore Guyana as the exploration and production programme continues to expand.

Guyana, company chief executive John Hess said during the company’s earnings call Wednesday, “is the key to our strategy”.