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| ExxonMobil |
ExxonMobil Corporation
says it has made a significant discovery of between 500 million and 1 billion
barrels of oil on the Owowo field offshore Nigeria.
Daily
Trust report continues:
ExxonMobil,
the largest publicly traded international oil and gas company, said in a
statement yesterday that the Owowo-3 well had a 460-foot column of oil-soaked
rock. The well is 10,410 feet deep.
Exxon
is the operator of the project (OPL 223 and OML 139) and owns 27% stake. Other
joint venture partners include Chevron Nigeria Deepwater (27% interest), Total
E&P Nigeria and Nexen Petroleum Deepwater Nigeria (18% interest), and the
Nigeria Petroleum Development Company Limited (10%).
“We
are encouraged by the results and will work with our partners and the
government on future development plans,” Stephen M. Greenlee, president of
ExxonMobil Exploration Company, said.
The
Owowo field spans portions of the contract areas of Oil Prospecting License 223
(OPL 223) and Oil Mining License 139 (OML 139).
The
well was drilled by ExxonMobil affiliate, Esso Exploration and Production
Nigeria (Deepwater Ventures) Limited and proved additional resource in deeper
reservoirs.
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