M&A Deal Summary

Hess and Sonatrach Acquire SONAHESS

On April 17, 2000, Hess and Sonatrach acquired oil/gas exploration company SONAHESS

Acquisition Highlights
  • This is Hess’ 2nd and Sonatrach’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Hess’ 1st and Sonatrach’s 1st transaction in Algeria.

M&A Deal Summary

Date 2000-04-17
Target SONAHESS
Sector Oil/Gas Exploration
Buyer(s) Hess
Sonatrach
Deal Type Joint Venture

Target

SONAHESS

Algeria
SONAHESS engages in the exploration and production of oil and gas. It owns and operates the Gassi El Agreb redevelopment project in central Algeria.

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Buyer(S) 2

Buyer

Hess

New York, New York, United States

Category Company
Founded 1920
Sector Oil/Gas Exploration
Employees1,545
Revenue 11.3B USD (2022)
DESCRIPTION

Hess is a global integrated energy company engaged in the exploration, production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products. Hess was founded in 1920 and is based in New York, New York.


DEAL STATS #
Overall 3 of 11
Sector: Oil/Gas Exploration M&A 2 of 8
Type: Joint Venture M&A Deals 1 of 2
Country: Algeria M&A 1 of 1
Year: 2000 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-02-24 Statoil Energy Services

Alexandria, Virginia, United States

Statoil Energy Services markets natural gas and electricity to industrial and commercial customers, primarily in New York, Pennsylvania, Maryland, Virginia and Washington, D.C.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-07-17 Azeri-Chirag-Gunashli Oil Field Development Project

Azerbaijan

Azeri-Chirag-Gunashli Oil Field Development Project comprises oil and gas reserves and contains 5.4 billion barrels of recoverable oil with total output of million barrels a day.

Buy -
Buyer

Sonatrach

Algeria

Category Company
Founded 1963
Sector Oil/Gas Exploration
DESCRIPTION

Sonatrach Spa operates as an oil and gas company, engages in exploration, production, pipeline transportation, and marketing of hydrocarbons and by products.


DEAL STATS #
Overall 1 of 1
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Joint Venture M&A Deals 1 of 1
Country: Algeria M&A 1 of 1
Year: 2000 M&A 1 of 1