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Hess Explores Sale Of Interests In Russia

Hess Corporation (NYSE: HES) announced today that as part of the company’s strategic reshaping of its portfolio it will pursue the sale of its Russian subsidiary Samara-Nafta, which produces approximately 50,000 barrels of oil equivalent per day in the Volga-Urals region. Hess has retained Goldman Sachs as its financial adviser in connection with the potential sale.

Hess Corporation is a leading global independent energy company engaged in the exploration for and production of crude oil and natural gas, as well as in refining and in marketing refined petroleum products, natural gas and electricity. More information on Hess Corporation is available at http://www.hess.com.

Cautionary Statements

This news release contains projections and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These projections and statements reflect the company’s current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that these projections will be achieved, and actual results could differ materially from those projected as a result of certain risk factors. A discussion of these risk factors is included in the company’s periodic reports filed with the Securities and Exchange Commission.



Copyright Business Wire 2010

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