Hess Corp. has completed the previously announced sale of its Pangkah asset offshore Indonesia to a subsidiary of PT Saka Energi Indonesia, Hess said in a press release.

PT Saka Energi Indonesia exercised its preemption rights for a total after-tax consideration of US $650 million, comprising the sale of equity interests in certain holding entities and intercompany debts. The asset produced an average of 9,000 boe/d net to Hess in the first three quarters of 2013, according to the press release.