Hess Completes Pangkah Sale


Offshore staff

NEW YORK – Hess Corporation has completed the previously announced sale of its Pangkah asset to a subsidiary of PT Saka Energi Indonesia for a total after tax consideration of $650 million.

Pangkah, located off the coast of Indonesia, began producing gas in 2007. Oil production from a second phase of development began in late 2008. LPG production, also part of the Phase 2 development, began in 2009.


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


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...