Hess (HES -3.8%) reaches deals with Malaysian national oil company Petronas to develop the North...

|About: Hess Corporation (HES)|By:, SA News Editor

Hess (HES -3.8%) reaches deals with Malaysian national oil company Petronas to develop the North Malay Basin, and will invest ~$250M in the project this year and ~$400M/year during 2013-15. HES will have a 50% working interest and operate the project, which is expected to add discovered net resources of 80M-100M boe to its portfolio.