Hess completes Pangkah sale

Jan. 10, 2014
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.

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.

01/10/2014