One day - One Company

Email This Page

Hess in brief

Energy on the move

Established in1933 by Leon Hess to truck and deliver oil in New Jersey, Hess Corporation has become today a global independent energy company acting:

  Upstream in oil, natural gas and condensate exploration production

 – Downstream in refining and marketing refined petroleum products and natural gas

 – Distributing electricity

With Headquarter in New York, New Jersey, USA, Hess is listed in NYSE with regional headquarters in Houston, Texas; London, UK; Kuaka Lumpur, Malaysia; Woodbridge, NJ to cover operations in 20 countries.

Actually the company is managed by John B. Hess as Chairman of the Board and Chief Executive Officer.

In Exploration and Production, Hess has interests in 13 countries out of which Hess has the operator role in:

 – Eagle Ford shale gas in Texas, USA

 – Pony and Tubular Bells in the Gulf of Mexico, USA

 – Paris Basin in France

 – Offshore Cape Three Points in Ghana

 – Area 54 in Sirte Basin, Libya

 – West Mediterranean (Block 1) in Egypt

 – Daqing oil field with PetroChina; Shengli and Bohai Baywith Sinopec in China

 – Semai V in Indonesia

 – Permit WA-390P offshore Western Australia

Midstream, Hess his transporting 700,000 barrels of oil equivalent (boe) per day in the world.

Hess also covers the East Coast of USA with 20 terminals storing 22 million barrels.

Hess historical roots are still alive in the company through the energy marketing activity providing electricity, natural gas, and petroleum products to 21,000 industrial customers on the East Coast of USA.

Downstream, Hess operate the 70,000 b/d refinery in Port Reading, New-Jersey.

Hess Key Figures

 – 2011 Revenues: $38,4 billion

 – 2010 Revenues: $33,8 billion

 – 2009 Revenues: $29,6 billion

 – 2011 Earnings: $1,7 billion

 – 2010 Earnings: $2,1 billion

 – 2009 Earnings: $0,7 billion

 – 2011 Capital Expenditure: $7,4 billion

 – 2010 Capital Expenditure: $5,8 billion

 – 2009 Capital Expenditure: $3,2 billion

Hess Projects and Business Higlights:

Hess priority is to renew and increase its proven reserves of crude oil and natural gas either in:

 – Acquiring new acreage such as in Utica Shale play in Ohio with 200,000 net acres

 – Signing production sharing contracts in two blocks (Dinarta and Shakrok) of the Kurdistan Province of Iraq

 – Developing new projects such as Tubular Bells in the deepwater of the Gulf of Mexico and WA-390P in Western Australia.

 – Enhancing production as in Bakken field.

In exploration Hess will concentrate capital expenditure on undeveloped fields such as:

 – Offshore Cape Three Points (OCTP) in Ghana

 – Unconventional oil and gas fields in China in joint venture with PetroChina and Sinopec

 – Deepwater offshore Red Sea in Egypt

Dowsntream, Hess develops an integrated energy business model to monetize the natural gas in producing and marketing electricity through gas-fired power generation plant.

For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer

close

For the lastest news about Oil&Gas and Digitalization, do not hesitate to follow our newsletter :

Leave a Reply