Amerada Hess Announces Venture in the Russian Federation.NEW YORK -- Amerada Hess Corporation (NYSE NYSE See: New York Stock Exchange : AHC AHC Appalachian Hardwood Center AHC American Heritage Center (University of Wyoming, Laramie, WY) AHC American Horse Council AHC Association for History and Computing AHC Australian Heritage Commission AHC Assault Helicopter Company ) announced today that it has acquired a 65% interest in Trabant Holdings International, a company which owns 100% of ZAO ZAO Zakrytoe Aktsionernoe Obschestvo (Russian: Closed Joint Stock Corporation) ZAO Zenith Angle Offset ZAO Aluminium Doped Zinc Oxide (material for producton of organic light-emitting diodes) Samara-Nafta, an exploration and production company located in the Volga-Urals region of the Russian Federation, for $25 million. Samara-Nafta currently produces approximately 7,500 bbls/day of high quality crude from fields in the Mamurinsky license area in the southern Samara region. Production from the fields commenced 2001. Samara-Nafta will be led by Chief Executive Officer, Simon Kukes, a former CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of both Tyumen Oil Company (TNK TNK Tank TNK Tenecteplase TNK Tomorrow Never Knows (Beatles song) TNK Tanak TnK Tenshi Na Konamaiki (anime) TNK Tyumenskaya Neftyanaya Kompaniya (Tyumen Oil Company, Russia) ) and Yukos Oil. John O'Connor, President of Amerada Hess Exploration & Production, said that "Amerada Hess is pleased to have the opportunity to join with Simon Kukes to evaluate the growth opportunities in one of Russia's important oil and gas producing provinces." About Amerada Hess Corporation Amerada Hess, headquartered in New York, is a global integrated energy company engaged in the exploration for and the production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products. |
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