ExxonMobil Starts Production From Telok Gas Field
Project delivered on schedule and within budget
ExxonMobil
has started production from the Telok natural gas field, located
offshore Malaysia in the South China Sea.
'The Telok development will help meet increasing demand for natural gas
in Peninsular Malaysia,? said Neil W. Duffin, president of ExxonMobil
Development Company. 'It is one of many natural gas developments
ExxonMobil will bring on stream in the next few years around the world.?
The development concept of 'design one, build many? was utilized to
efficiently develop the project and shorten construction and
installation timelines, allowing Telok to be completed on schedule and
within budget.
The Telok A platform is the first phase of the Telok natural gas
project, which when completed will consist of two four-legged unmanned
gas satellite platforms. Full well stream gas will be produced via a new
16-mile pipeline to the existing Guntong E platform for processing. A
total of 14 development wells are planned for the Telok A and B
platforms.
The Telok gas field is located about 124 miles offshore the east coast
of Peninsular Malaysia. The field was developed under a gas production
sharing contract, and is a 50-50 joint venture between ExxonMobil, the
operator, and PETRONAS Carigali Sdn Bhd.
CAUTIONARY STATEMENT: Estimates, expectations, and business plans in
this release are forward-looking statements. Actual future results,
including production rates, ultimate recoveries, and project plans and
schedules, could differ materially due to changes in market conditions
affecting the oil and gas industry or long-term oil and gas price
levels; political or regulatory developments; reservoir performance;
timely completion of development projects; technical or operating
factors; and other factors discussed under the heading 'Factors
Affecting Future Results' in the Investor Information section of our
website (www.exxonmobil.com)
and in Item 1A of our most recent Form 10-K. References to 'recoverable
resources' and similar terms include quantities of oil and gas that are
not yet classified as proved reserves but that we believe will be
produced in the future. The term 'project' as used in this release does
not necessarily have the same meaning as under SEC Rule 13q-1 relating
to government payment reporting. A single project for purposes of that
rule may encompass numerous properties, agreements, investments,
developments, phases, work efforts, activities, and components, each of
which we may also describe informally as a 'project'.
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