ExxonMobil starts Yoho production

ExxonMobil Corp.'s subsidiary, Mobil Producing Nigeria Unlimited (MPN), has started production from the Yoho development in the Nigerian National Petroleum Corp. (NNPC)/MPN joint venture (JV) acreage, Oil Mining Lease (OML) 104, offshore Nigeria.

ExxonMobil Corp.'s subsidiary, Mobil Producing Nigeria Unlimited (MPN), has started production from the Yoho development in the Nigerian National Petroleum Corp. (NNPC)/MPN joint venture (JV) acreage, Oil Mining Lease (OML) 104, offshore Nigeria.

The $1.2 billion project, with estimated recoverable resources of 0.4 Bbbl, will develop discoveries in the Yoho and Awawa reservoirs in shallow water depths of 200-300 ft. By using a temporary FPSO vessel as an early production system (EPS), first oil from Yoho came onstream almost two years ahead of full-field start-up. Production through the FPSO is expected to add over 90,000 b/d.

"Yoho is the first of several significant, new development projects, operated by ExxonMobil, to come onstream offshore West Africa," said Rex Tillerson, senior vice president, Exxon Mobil Corp.

The full-field development will involve additional wellhead platforms, a central production platform, a living quarters platform, and an FSO vessel, which will replace the EPS. Full-field start-up is scheduled for late 2004. Yoho will serve as a hub for future development of OML 104 petroleum resources.

ExxonMobil's subsidiary, MPN, holds a 40% interest in the NNPC/MPN JV, which has a production capacity of 650,000 b/d of petroleum liquids. The Federal Government of Nigeria holds the remaining 60% interest through NNPC.

02/24/03

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