Hess has moved closer to the development of a $5 billion (£3 billion) refinery facility on the Caribbean island of St Lucia, reports indicate.

According to Guy Joseph, communications and works minister, the New York-based company has undertaken substantial feasibility work in the region, suggesting that the firm is committed to going ahead with the project.

"Quite a substantial amount of money has been committed to the feasibility studies and the studies undertaken so far conclude that there will be no problems putting in the refinery," he told Caribbean Media Corp.

Prime minister Stephenson King has previously confirmed that if the site goes ahead, Hess will offer an attached training and development programme to allow St Lucians access to secure technical positions at the plant.

According to Quantec, his comments came after he led a delegation to Hess headquarters to discuss downstream partnership prospects.

Hess already operates a world-class merchant refinery in the region.

A joint venture with PDVSA, the facility has an output capacity of 495,000 barrels a day and is situated on St Croix in the US Virgin Islands.

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