Offshore staff
NEW YORK – Hess Corp. has entered into two separate agreements with a joint venture between PT Pertamina and PTT Exploration and Production Co. Ltd. to sell its interests in both the Pangkah and Natuna A assets located off the coast of Indonesia for $1.3 billion.
Together, the two assets produced an average of 15,000 boe/d net to Hess in the first three quarters of 2013.
Hess plans to use the proceeds from this sale to continue repurchasing shares under its existing $4 billion authorization. The agreements are expected to close before the end of 1Q 2014.
12/02/2013
