Hess Increases Stakes Offshore Norway
Hess Corporation has seized interests in the Valhall and Hod fields offshore Norway, pre-empting Total's sale to BP. Hess will gain additional interests of 7.85% in Valhall and 12.5% in Hod for a sum of US $496 million in cash. Together, with the previously announced trade between Hess and Shell, the transaction will bring Hess' interest in Valhall and Hod to 64.05% and 62.50%, respectively. Both dealings are subject to approval by authorities and are expected to close near the end of the third quarter.SubseaIQ provides focused, in-depth coverage of offshore field development activities around the world, with daily updates on hundreds of offshore fields and facilities. Click here to sign up for the free weekly email newsletter.
Operates 4 Offshore Rigs
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