Make sure that the System.Web.Optimization.dll assembly has been referenced in your project and that the <add namespace="System.Web.Optimization"/> namespace has been added to your ~/Views/web.config file (not ~/web.config file):
<system.web.webPages.razor>
<host factoryType="System.Web.Mvc.MvcWebRazorHostFactory, System.Web.Mvc, Version=4.0.0.0, Culture=neutral, PublicKeyToken=31BF3856AD364E35" />
<pages pageBaseType="System.Web.Mvc.WebViewPage">
<namespaces>
<add namespace="System.Web.Mvc" />
<add namespace="System.Web.Mvc.Ajax" />
<add namespace="System.Web.Mvc.Html" />
<add namespace="System.Web.Optimization"/>
<add namespace="System.Web.Routing" />
</namespaces>
</pages>
</system.web.webPages.razor>
The System.Web.Optimization.dll assembly is contained within the Microsoft.AspNet.Web.Optimization NuGet, so make sure that it is installed in your project (when you create a new ASP.NET MVC 4 project in Visual Studio using the Internet Template this NuGet is automatically added to the project).