Killajoules

Hess Reaches Agreement for Sale of UK Assets
Hess Corporation (NYSE: HES) today announced it had reached agreement with Royal Dutch Shell to sell its 15.67 percent interest in the BP-operated Schiehallion field, its associated share in the Schiehallion Floating, Production, Storage and Offloading vessel (FPSO) and the West of Shetland pipeline system. The sale is subject to regulatory approval and is expected to complete later this year.

Hess Corporation to Install $45 Million in Pollution Controls and Pay $850,000 Penalty to Resolve Clean Air Act Violations
Hess Corporation has agreed to pay an $850,000 civil penalty and spend more than $45 million in new pollution controls to resolve Clean Air Act violations at its Port Reading, N.J., refinery, the Department of Justice and the U.S. Environmental Protection Agency (EPA) announced today. Once fully implemented, the controls required by the settlement are estimated to reduce emissions of nitrogen oxide (NOx) by 181 tons per year and result in additional reductions of volatile organic compounds (VOCs). High concentrations of NOx and VOCs, key pollutants emitted from refineries, can have adverse impacts on human health, including contributing to childhood asthma, and are significant contributors to smog.

Statoil in Ghana farm-in
Statoil has entered its first acreage in Ghana, farming into a deepwater licence operated by Hess. The Deepwater Tano/Cape Three Points (DWT/CTP) licence was awarded to Hess Corporation (Hess) in 2006 and lies just south of the licence containing the Jubilee field offshore Ghana.

Hess Explores Sale of St. Lucia Terminal
Hess Corporation (NYSE: HES) announced today that it is exploring the sale of its St. Lucia crude oil and refined products storage and transshipment terminal in the Caribbean. Hess has retained Goldman Sachs as financial advisor in connection with the potential sale.

HOVENSA Announces Closure of St. Croix Refinery
HOVENSA L.L.C. announced today that it will commence shutdown of its refinery on St. Croix, U.S. Virgin Islands. Following the shutdown, the complex will operate as an oil storage terminal.

Technip awarded subsea contract for the Tubular Bells development in the Gulf of Mexico
Technip was awarded a lump sum contract by Hess Corporation for the development of the Tubular Bells field, located in the Mississippi Canyon area of the Gulf of Mexico at a water depth of approximately 4,500 feet (1,370 meters).

HOVENSA Announces Closure of St. Croix Refinery
HOVENSA L.L.C. announced today that it will commence shutdown of its refinery on St. Croix, U.S. Virgin Islands. Following the shutdown, the complex will operate as an oil storage terminal.

SDRL - Seadrill secures contract for semi-tender newbuild
Seadrill has been issued a letter of award by Hess Equatorial Guinea, Inc. to enter into an eight well drilling contract offshore Equatorial Guinea for the semi-tender rig West Esperanza. The anticipated contract duration is a minimum of 18 months, with corresponding potential revenues of approximately $127 million plus mobilization fee. West Esperanza, which Seadrill ordered on speculation in June 2011, is currently under construction at Keppel FELS yard in Singapore. Construction is scheduled for completion in early second quarter of 2013. Following mobilization from Singapore to Equatorial Guinea, the rig is scheduled to commence operation at the end of the second quarter of 2013.

Hess awards Wood Group Kenny FEED contract for Equus project
Wood Group Kenny has been awarded a contract to carry out the front end engineering and design (FEED) for the subsea development of Equus, Hess Exploration Australia's first deepwater gas project in offshore Western Australia.

Statoil Increases ownership in the Snøhvit Unit
Statoil has signed an agreement to acquire Hess’ 3.26% ownership in the Barents Sea Snøhvit Unit and adjacent production licences.
Statoil acquires Hess’ 11.25% participation interest in PL097 and 8.33% participation interest in PL110 together constituting a 3.26% participation interest in the Snøhvit Unit and in the Hammerfest LNG-facility located at Melkøya.