ExxonMobil to Explore Offshore Liberia Block 13
Exxon
Mobil Corporation (NYSE:XOM) announced today that its Liberian
affiliate has acquired from Canadian Overseas Petroleum (Bermuda) Ltd.
(COPL) 80 percent interest in Liberia Block 13 (LB-13), comprising more
than 625,000 acres (2,500 square kilometers) offshore Liberia in water
depths ranging from 250 to 10,000 feet (75 to 3,000 meters).
ExxonMobil Exploration and Production Liberia Limited and COPL received
final approval of the transaction from the Liberia national legislature
and Liberia President Ellen Johnson Sirleaf. The transaction closed on
April 5, 2013.
ExxonMobil is the operator of LB-13. COPL has 20 percent interest in
LB-13.
'We appreciate the vote of confidence from the government of Liberia in
our capability to help develop the nation′s hydrocarbon resources,? said
Steve Greenlee, president of ExxonMobil Exploration Company. 'The
government of Liberia wants to develop its resources for the benefit of
the country and its people. We have the capability and the expertise to
help make that happen.?
ExxonMobil plans to open its venture office in Monrovia within 180 days
to begin fulfilling the requirements of the production sharing contract,
which calls for an exploration well to be drilled within three years.
Liberia Block 13 is 18 miles (30 kilometers) offshore Liberia′s central
coast.
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 and timing, could differ materially
due to changes in long-term oil and gas price levels or other market
conditions affecting the oil and gas industry; regulatory approvals and
other political or legal developments; the results of technical studies
or exploration activities; 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).
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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