KUFPEC mulls acquiring US Hess Corporation

Mubasher: Kuwait Foreign Petroleum Exploration Company (KUFPEC) is considering acquiring natural gas assets in Hess Corporation, the American global independent energy company engaged in the exploration and production of crude oil and natural gas, sources said.

The market value of the company located in Southeast Asia ranges between $4 billion and $5 billion.

Oil relevant parties started studying Hess Corporation’s assets, while other parties began conducting a preliminary assessment of the assets in preparation for the acquisition process.

It is worth noting that US energy group has a collection of gas fields in the North Malay Basin in offshore Malaysia.  

Mubasher Contribution Time: 28-Aug-2018 08:19 (GMT)
Mubasher Last Update Time: 28-Aug-2018 08:22 (GMT)