Hess considers selling Russian interests

Hess Corp. said it is considering whether to sell its Russian subsidiary, Samara-Nafta, which produces 50,000 boe/d in the Volga-Urals region.

Samara-Nafta produces crude oil from fields in the Mamurinsky license in the southern Samara region.

Previously, Hess announced plans to divest mature, small working-interest assets.

Hess announced Nov. 12 that it has hired Goldman Sachs Group Inc. as a financial adviser regarding the potential Samara-Nafta sale. Hess first acquired interest in the Russian firm in 2005 (OGJ Online, Mar. 24, 2005).

To access this Article, go to: