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Friday, August 2, 2013
Hess Corp is looking to pick up a partner for its exploration block offshore Ghana. The company has a 90% stake in the Deepwater Tano/Cape Three Points block, with GNPC holding the remaining 10%.
In its earnings call with analysts the company’s president of Worldwide Exploration Gregory P. Hill said that the company plans to open a data room in August with the intent to farm down its interest in the West African country.
Prospective partners should know that the company has made seven consecutive discoveries on the block and its appraisal plans were submitted to the government in June of this year. The company said that it plans to begin appraisal drilling in 2014 and is continuing its pre-development work. The pre-development work consists of a pre-FEED study.
The company is also looking to sell off a portion of its PSA in Kurdistan for the Dinarta and Shakrok fields.
Perhaps ExxonMobil might find a stake interesting following unsuccessful previous attempts to gain Ghanaian acreage.
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