Some critical at-a-glance facts about Hess Corporation and our global Exploration and Production business:
- With a heritage dating back to our entrepreneurial origins in 1933, we are today a Global Fortune 300 company, working across more than 15 countries around the world and producing net income of more than $1.8 billion from our E&P operations in 2007.
- E&P is the engine of our future growth; over 95% of our annual capital expenditure goes into our exploration, development and production activities across the globe.
- Over the last two years, we have extended our operations through a range of new ventures, including Egypt, Russia, Australia and Ghana, and re-entered Libya creating a global portfolio unique amongst independent companies.
- In Exploration, we have a series of high impact prospects that will utilize advanced drilling and seismic interpretation technology and capabilities.
- Also for the future, we have twelve major developments in the pipeline including greenfield, incremental and redevelopment projects.
- Operational excellence lies at the heart of our production activities; we are focused on delivering the full potential value from our balanced portfolio of assets through efficient operations and consistently delivering our production targets.
- We have grown both our production and reserves, year on year. In 2007 we achieved 167 percent replacement of our production - once again extending our reserve life.
- Our growing, global program of exploration, development and production will continue to offer a range of technical challenges for world class professionals.