US independent Hess is set to sell its operating stake in the oil-rich Deepwater Tano/Cape Three Points (DT-CTP) block off Ghana, writes Iain Esau.
Hess took a $280 million after-tax charge in its fourth quarter results, fully impairing the carrying value of its 40% interest.
It said the write-down was based on its decision to shelve a development plan it had for DT-CTP, focused on the Pecan discovery.
