IRVING, Texas (July 28, 2003) - Exxon Mobil Corporation announced that its
subsidiary, Esso Exploration and Production Chad, Inc. began pipeline fill
operations on the Chad-Cameroon Oil Development and Pipeline Project on July
24, 2003. The pipeline has been completed one year ahead of the original
schedule, along with facilities for one of the three oil fields under
development.
The pipeline extends 660 miles from the oilfields in southern Chad to a
Floating, Storage and Offloading (FSO) vessel located seven miles offshore
Kribi, Cameroon, in the Gulf of Guinea.
Construction will continue on the central treating facilities in Chad and full
production is targeted to start by year-end 2003. Drilling operations are
continuing on the remaining two fields. When completed, production of 225,000
barrels per day is anticipated from the wells and facilities in these fields.
"To date, the project's overall worker safety record has been exemplary, with
over 50 million hours worked without a lost time accident on project
construction and drilling sites," said Rex Tillerson, senior vice president,
Exxon Mobil Corporation.
To highlight the start of pipeline operations, project inauguration ceremonies
will be held in Chad late September and in Cameroon in late October.
The project represents an unprecedented effort in the areas of socioeconomic
planning and public consultation. The consultation process, which began in
1993, has provided the opportunity for tens of thousands of citizens to have
input into the planning. In addition, multiple levels of monitoring by
external groups has verified the project's compliance with its commitments
under the Environmental and Socioeconomic Management Plans.
The Consortium developing the project is comprised of subsidiaries of
ExxonMobil (operator, 40 percent interest), Petronas (35 percent interest) and
ChevronTexaco (25 percent interest).
CAUTIONARY STATEMENT: Estimates, expectations, and business plans in this
release are forward-looking statements. Actual future results, including
resource recoveries, production rates, and project plans and schedules, could
differ materially due to changes in market conditions affecting the oil and
gas industry, political developments, technical or operating factors, and
other factors discussed under the heading "Factors Affecting Future Results"
included in Item 1 of ExxonMobil's most recent Form 10-K and posted on the
ExxonMobil website (www.exxonmobil.com
). References to quantities of oil and gas include amounts that are not yet
classified as proved reserves but that we believe will be produced in the
future.
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ExxonMobil News Media Desk: (713) 656-4376
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