[Denmark] South Arne

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Hess Completes Sale of Interests in Denmark
08/30/2021

NEW YORK--(BUSINESS WIRE)--Aug. 30, 2021-- Hess Corporation (NYSE: HES) announced today that it has completed the previously announced sale of its subsidiary Hess Denmark ApS, which holds a 61.5% interest in the South Arne Field, to Ineos E&P AS for a total consideration of $150 million, effective January 1, 2021.

“The sale of our Denmark asset enables us to further focus our portfolio and strengthen our cash and liquidity position,” CEO John Hess said. “Proceeds will be used to fund our world class investment opportunity in Guyana.”

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Kent secures FEED contract for INEOS Hejre Project in the North Sea



Kent, a global leader in engineering, has been awarded a key Front-End Engineering Design (FEED) contract for the INEOS Hejre project. This prestigious award was won in a competitive bid and highlights Kent's extensive expertise and capabilities in the subsea and offshore sectors.

The Hejre project, an offshore High Pressure High Temperature (HPHT) development, is located in the Danish sector of the North Sea. It is planned as a tie-back to the South Arne field, utilising the existing Hejre jacket structure. Kent's responsibilities under this contract include the complete FEED design for the pipeline, tie-in spools, retrofit risers, and subsea power & fibre optics cable.

Usman Darr, Engineering and Consulting Managing Director for the UK at Kent, expressed his enthusiasm about the project, stating, "We are thrilled to continue our partnership with INEOS Energy Denmark on the Hejre project. Having successfully completed the pre-FEED for the full project scope, this new phase allows us to further demonstrate our robust FEED capabilities and deep understanding of the unique challenges in subsea and offshore engineering, particularly in the challenging conditions of the North Sea."

Rasmus Enemark-Rasmussen, Project Manager at INEOS, added, "We are delighted to deepen our collaboration with Kent. Their performance in the Hejre pre-FEED phase, coupled with their pivotal role in vital energy transition projects like Greensand, underscores the strength and importance of our ongoing partnership."

Kent's ongoing involvement with INEOS projects extends beyond Hejre. The company is also engaged in study work for the Greensands Carbon Capture and Storage (CCS) project, further solidifying its position as a critical partner in INEOS's operations in Denmark.

This contract not only reinforces Kent's commitment to supporting INEOS Energy Denmark but also underscores the strength and depth of its engineering expertise in handling complex offshore projects in the North Sea region.