Hess capex, exploration budget includes offshore tracts

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 on block 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 at Tubular 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 at Deepwater Tano/Cape Three Points.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...