Esso Norge Begins Oil and Gas Production From the Jotun Field
27.10.1999, 16:31
Irving, Texas (ots-PRNewswire) - Exxon Corporation (NYSE: XON)announced today that its affiliate Esso Norge AS has begun oiland gas production from the Jotun field located about 120 mileswest of Stavanger, Norway. Jotun start-up follows initiation ofproduction from the Balder field, announced earlier this month. The field is expected to produce about 100,000 barrels of oila day by early next year and will also produce gas for export.Recoverable reserves are estimated at 210 million oil equivalentbarrels and will be developed at a cost of approximately $1billion. The Jotun production facilities consist of Jotun A, a floatingproduction and storage unit, and the Jotun B wellhead/drillingplatform. Crude oil will be offloaded by shuttle tankers, whilegas will be transported via the Statpipe system. Esso is the operator of the Jotun field with a 45 percentparticipation share. Other participants are Enterprise Oil (45percent), Conoco (3.75 percent), Amerada Hess (1.25 percent),Statoil (2 percent) and Norway's Direct Financial Interest (3percent). ots Original Text Service: Exxon Corporation Internet:http://www.newsaktuell.de Contact: Jill Johnson of ExxonCorporation, (USA) 972-444-1170 Web site: http://www.exxon.com
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