Hess Announces First Oil Production from Okume

First oil was achieved on December 14, 2006 at the Okume "B" Platform. Production will grow during 2007 as infield drilling progresses until gross peak production of 60,000 barrels per day is achieved during 2008. Hess is the operator of the Okume Complex with an 85 percent working interest.

Construction of the Okume Complex facilities commenced in August 2004 following approval of the Plan of Development by the Republic of Equatorial Guinea. The Okume Complex, located 150 miles south of Bioko Island in the Gulf of Guinea, employs two tension leg platforms, three satellite platforms and a central processing platform. These facilities provide for full field pressure maintenance and artificial lift capability. The Okume Complex central processing facilities are tied back to the Sendje Ceiba Floating Production Storage and Offloading (FPSO) vessel, which provides crude storage and loading capability.