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Hess capex, exploration budget includes offshore tracts

Jan. 9, 2013

Out of a total capital and exploratory budget of $6.8 billion for Hess Corp. (NYSE:HES), the portion that includes offshore will account for $1.85 billion for production operations, development spending of $1.6 billion, and exploration spending of $550 million.

Offshore staff

NEW YORK –Out of a total capital and exploratory budget of $6.8 billion forHess Corp. (NYSE:HES), the portion that includes offshore will account for $1.85 billion for production operations, development spending of $1.6 billion, and exploration spending of $550 million.

The production work will include drilling production wells onblock G offshore Equatorial Guinea, drilling production and water injections wells at Shenzi, and a production well at Llano field in deepwater Gulf of Mexico.

Development includes drilling atTubular Bells in deepwater GoM, installation of an early production system and front-end engineering and design for full development of North Malay basin, and continued work on block A-18 in the Joint Development Area in the Gulf of Thailand.

Exploration is expected to include work offshore Ghana atDeepwater Tano/Cape Three Points.

1/9/2013