Hess acquires Noreco's interest in South Arne for US$200 million
Norwegian independent Noreco has announced the divestment of its interest in the Danish South Arne field to Hess Corporation in exchange for a cash consideration of US$200 million. The deal is the latest in a series of divestments by Noreco aimed at reducing capital commitments and stabilising the company's financial position. For Hess, the acquisition is an opportunistic move to consolidate its interest in one of the company's key assets outside of North America. Under our base ...