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.

1/9/2013

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

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...