Esso Norge Begins Oil and Gas Production From the Jotun Field

Irving, Texas (ots-PRNewswire) - Exxon Corporation (NYSE: XON) announced today that its affiliate Esso Norge AS has begun oil and gas production from the Jotun field located about 120 miles west of Stavanger, Norway. Jotun start-up follows initiation of production from the Balder field, announced earlier this month. The field is expected to produce about 100,000 barrels of oil a day by early next year and will also produce gas for export. Recoverable reserves are estimated at 210 million oil equivalent barrels and will be developed at a cost of approximately $1 billion. The Jotun production facilities consist of Jotun A, a floating production and storage unit, and the Jotun B wellhead/drilling platform. Crude oil will be offloaded by shuttle tankers, while gas will be transported via the Statpipe system. Esso is the operator of the Jotun field with a 45 percent participation share. Other participants are Enterprise Oil (45 percent), Conoco (3.75 percent), Amerada Hess (1.25 percent), Statoil (2 percent) and Norway's Direct Financial Interest (3 percent). ots Original Text Service: Exxon Corporation Internet: http://www.newsaktuell.de Contact: Jill Johnson of Exxon Corporation, (USA) 972-444-1170 Web site: http://www.exxon.com Subscribers please note that material bearing the slug "PROTEXT" is not part of CTK's news service and is not to be published under the "CTK" slug. Protext is a commercial service providing distribution of press releases from clients, who are identified in the text of Protext reports and who bear full responsibility for their contents. PROTEXT