Capex Data
Hess announced a $3.2 billion capital and exploratory expenditure program for 2009. Approximately $3.1 billion is targeted for Exploration and Production, with $1.4 billion for production, $900 million for developments and $800 million for exploration.
Production expenditures are expected to total $1.4 billion, including:
• Shenzi Field in Deepwater Gulf of Mexico (Hess 28% working interest). Start up is expected in the first half of 2009 with additional production wells in the second half of 2009.
• Okume Complex, a Hess operated offshore oil field in Equatorial Guinea (Hess 85%). The company will drill additional production and water injection wells.
• Bakken Shale in North Dakota's Williston Basin. Hess will continue to drill production wells and expand production facilities.
Field development expenditures of $900 million are expected to include:
• Valhall Field in Norway (Hess 28%). Redevelopment of the field is ongoing.
• Pony Field, a Hess operated discovery in the deepwater Gulf of Mexico (Hess 100%). Activities will include the drilling of the Pony #3 well on Green Canyon Block 469 to confirm the eastern extent of the field as well as FEED work.
• Ujung Pangkah Field, a Hess operated oil and gas field in Indonesia (Hess 75%). Development of the oil rim is ongoing.
Exploration and exploitation expenditures are budgeted to be about $800 million, including:
• Azulao and Guarani exploration wells on BM-S-22 in the Santos Basin of Brazil (Hess 40%).
• Lencois exploration well on Hess operated BM-ES-30 in the Espirito Santo Basin of Brazil (Hess 60%).
• Five exploration wells on Permit WA-390-P (Hess 100%) and three wells on Permit WA-404-P (Hess 50%), in the Northwest Shelf of Australia.
By Segment:
Exploration and Production
Production: 1,400
Development: 900
Exploration: 800
By Region
Exploration and Production
United States: 850
Europe: 700
Africa: 550
Asia and Other: 1,000
Total Exploration and Production: 3,100
Marketing and Refining: 70
Corporate: 30
Total: 3,200
Future Plans
No data yet.