April 12 (Reuters) - An Exxon Mobil arbitration
case that could block the sale of Hess Corp ( HES ) to Chevron ( CVX )
could drag on until year-end, Hess said in a U.S.
securities filing on Friday.
The filing signals any closing of its $53 billion sale to
Chevron ( CVX ) could fall into next year, at least six months later
than a prior goal of finalising the deal the middle of this
year.
Exxon and CNOOC Ltd filed cases before the International
Chamber of Commerce last month seeking to claim a right to a
first refusal over any sale of Hess's 30% stake in the giant
Stabroek offshore oil block, home of the largest oil discovery
in nearly a decade.
Hess, Exxon and CNOOC are three members of a consortium
developing the oil finds.
Chevron ( CVX ) CEO Michael Wirth last month said
he was
surprised by Exxon's decision to halt discussions to settle
the matter and pursue an arbitration case.
Hess said in its filing that it seeks to have the merits
of the arbitration heard by the third quarter of 2024 and
complete the arbitration by the end of the year.
Neither Chevron ( CVX ) nor Hess can predict the date on which the
transaction will be completed, Hess said in its filing.
On Friday, Hess and Exxon gave a financial go-ahead to a
sixth oil project in Guyana. The project would add 250,000
barrels per day of production by the end of 2027, the companies
said.