By OGJ editors
HOUSTON, Jan. 11 -- Amerada Hess Corp. plans a $4 billion capital and exploratory expenditure program for 2006, which includes $413 million to acquire Egyptian assets from Apache Corp. and $366 million to reenter the Waha license in Libya.
Excluding acquisitions, $3.1 billion is targeted for exploration and production during 2006, while $125 million is targeted for marketing and refining. The 2005 budget included about $2.4 billion for E&P and $100 million for M&R.
Amerada Hess is a partner in Libya with ConocoPhillips, which reported an agreement with the country's National Oil Corp. (NOC) under which it and its partners will return to their former production operations (OGJ Online, Dec. 29, 2005). Marathon Oil Co. also is a partner.
The companies suspended operations in Libya in 1986.
