ExxonMobil and Rosneft announce the signing of a pilot development agreement for a joint project to assess the possible commercial production of tight oil reserves in Western Siberia.
The stake in Samara Nafta, could net Hess between $1.25 and $1.5 billion, according to a study from Global Hunter Securities.
Hess has retained Goldman Sachs as its financial adviser in connection with the potential sale.