Exxon, Statoil get Julia field lease extension in GoM
Jan. 9, 2012
Exxon Mobil Corp. and Statoil ASA will keep leases covering the Julia deepwater Gulf of Mexico oil field in a settlement with the US Department of Interior.
Offshore staff
DALLAS – Exxon Mobil Corp. and Statoil ASA will keep leases covering the Julia deepwater Gulf of Mexico oil field in a settlement with the US Department of Interior.
Exxon and Statoil agree to begin production by mid-2016 from an offshore installation and to pay additional fees to retain the giant prospect, reports the Wall Street Journal.
Exxon had applied to extend its 10-year lease for an additional five years, but DoI denied the extension saying the operators had not set a specific development plan for the field.
