Offshore staff

IRVING, Texas -- Exxon Mobil Corp. subsidiary, Exxon Neftegas Ltd. has completed the Z-11 well, the longest measured depth extended-reach drilling (ERD) well in the world, ExxonMobil says. On Sakhalin Island offshore eastern Russia, the record-setting Z-11 achieved a total measured depth of 11,282 m (37,016 ft).

The multi-phase Sakhalin-1 project includes the Chayvo field, which lies 8-11 km (5-7 mi) offshore. The Chayvo field reached its peak production rate of 250,000 b/d in February 2007 after an on-schedule startup in October 2005.

Z-11 is the 17th ERD producing well to be completed as part of the Sakhalin-1 project. It was drilled in 61 days (more than 15 days ahead of schedule) below expected cost and with no safety or environmental incidents.

Since the first Sakhalin-1 well was drilled in 2003, the time required to drill these wells has been reduced by more than 50%. When compared to industry benchmarks, Sakhalin-1 wells are the world's fastest drilled ERD wells, ExxonMobil says.

Exxon Neftegas Ltd. operates the project with 30% interest. Partners include Japan's Sakhalin Oil and Gas Development Co. Ltd. with 30%; affiliates of Rosneft, Russia's state-owned oil company, RN-Astra with 8.5% interest, Sakhalinmorneftegas-Shelf with 11.5% interest; and India's state-owned oil company ONGC Videsh Ltd. with 20% interest.

5/8/2007