US firm Hess has quit Algeria with the sale of its 49% stake in the 20,000 b/d SonaHess joint venture (state-owned Sonatrach 51%) its only asset in the country.

Speaking on the firm’s 27 January Q4 conference call CEO and Chairman John Hess referred to “the recent sale of our assets in Algeria in December.”

Company CFO John P Rielly adds that “the actual transaction did close right before year-end. However, we have not received the cash yet. That will be coming in...