ExxonMobil Announces First Production from Usan Field Offshore Nigeria
Project to produce up to 180 thousand barrels of oil per day gross
Providing significant employment, revenue and local supplier
opportunities
ExxonMobil′s 2010 net production in offshore Nigeria averaged 391
thousand barrels a day
Exxon
Mobil Corporation (NYSE:XOM) announced today the startup of
production from the Usan field, offshore Nigeria. ExxonMobil subsidiary
Esso E&P Nigeria (Offshore East) Limited has a 30 percent interest in
the deepwater project.
The Usan project has capacity to produce up to 180,000 barrels per day
gross.
'This project represents another major achievement of the industry and
Nigerians working together to develop the country′s resources,? said
Neil Duffin, president, ExxonMobil Development Company. 'Usan is
providing significant benefits including revenues, employment and
opportunities for local suppliers.?
The Usan field was discovered in 2002 in water depths of 2,400 feet
approximately 62 miles from the coast. Production facilities include a
floating production, storage and offloading vessel and ultimately 42
sub-sea wells. The operator is Total E&P Nigeria Limited.
ExxonMobil is active in both shallow water shelf and deepwater acreage
offshore Nigeria. In the deepwater ExxonMobil has interests in seven
blocks, operates the producing Erha and Erha North fields and also
produces from the co-venturer operated Bonga field. In 2010,
ExxonMobil′s net production in offshore Nigeria averaged 391 thousand
barrels a day.
Partners in the Usan project include Esso E&P Nigeria (Offshore East)
Limited (30%), Chevron Petroleum Nigeria Limited (30%), Total E&P
Nigeria Limited (20%) and Nexen Petroleum Nigeria Limited (20%).
CAUTIONARY STATEMENT: Statements in this release regarding future events
and conditions are forward-looking statements. Actual future results,
including resource recoveries and project plans, costs, timing, and
production, could differ materially due to changes in long-term oil and
gas price levels or other market conditions affecting the oil and gas
industry; political or regulatory developments; actual future reservoir
performance; unexpected technical or operating events; the outcome of
commercial negotiations; and other factors discussed under the heading
'Factors Affecting Future Results' posted in the Investor Information
section of our website (www.exxonmobil.com).
References in this release to total resources, including barrels of oil
and cubic feet of natural gas, include quantities that are not yet
classified as 'proved reserves' under U.S. SEC definitions but that we
believe will ultimately be produced.
About ExxonMobil
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the largest publicly traded international oil and gas company, uses
technology and innovation to help meet the world′s growing energy needs.
ExxonMobil holds an industry-leading inventory of resources, is the
largest refiner and marketer of petroleum products, and its chemical
company is one of the largest in the world. For more information, visit www.exxonmobil.com.
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