Hess completes Eq Guinea divestment
Equatorial Guinea “Our 2017 asset monetisations have exceeded expectations in terms of value and timing,” CEO John Hess said in a statement. “These proceeds, along with cash on our balance sheet, are enabling us to pre-fund our world-class investment opportunity in Guyana, increase our rig count in the Bakken in 2018, return capital to shareholders and reduce debt.”
The combined price tag for both deals, effective January 1, 2017, is USD 650 million, the release added.
Recent Posts
Namibia gets $138.5-million boost for renewables vision
The World Bank has granted Namibia a $138 Read More
PetroVietnam’s exploration arm announces oil finds
PetroVietnam exploration arm PVEP has announced two oil finds with combined initial reserves of 100 Read More
Mozambique’s Coral Sul FLNG passes performance test
Air Products’s LNG liquefaction equipment deployed on Coral Sul FLNG in Mozambique has successfully passed its performance test, Air Products… Read More
Saudi Aramco hands $1.7-billion contract to China’s CPECC
Saudi Aramco has awarded a USD 1 Read More
Seatrium wins MODEC contract for Guyana-bound FPSO
Singapore’s Seatrium has secured a topside integration project for the FPSO Errea Wittu from Offshore Frontier Solutions, a MODEC Group… Read More
UK allows oil exploration in North Sea wind project zones
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More