Alma Field Begins Production Offshore Nova Scotia.Energy Editors/Business Editors IRVING, Texas--(BUSINESS WIRE)--Dec. 2, 2003 Exxon Mobil Corporation Exxon Mobil Corporation U.S.-based oil and gas company formed in 1999 through the merger of Exxon Corp. and Mobil Corp. It has investments and operations in petroleum and natural gas, coal, nuclear fuels, chemicals, and ores. (NYSE NYSE See: New York Stock Exchange :XOM XOM Exxon Mobil Corporation (stock symbol) XOM X/Open Object Management XOM OSI-Abstract-Data Manipulation API XOM Xml Object Model XOM X/Open Osi Abstract Data Manipulation ) announced today that natural gas production has begun at the Alma field, the first Tier 2 production from the Sable sable, species of marten, Martes zibellina, found in Siberia, N European Russia, and N Finland. This carnivorous mammal is highly valued for its thick, soft fur, which is dark brown or black, sometimes with white underparts and sometimes flecked with silver. Project, located 125 miles offshore Nova Scotia, Canada. The Alma field is currently producing about 120 million cubic feet of gas and 3,000 barrels of condensate and natural gas liquids per day. With the addition of Alma, average daily production at the Sable Project is approximately 500 million cubic feet of natural gas and 20,000 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. of associated condensate and natural gas liquids. The Alma platform is located in 220 feet of water and is connected to the Sable Project's Thebaud central processing platform via a 32-mile subsea Subsea is a general term frequently used to refer to equipment, technology, and methods employed to explore, drill, and develop oil and gas fields that exist below the ocean floors. This may be in "shallow" or "deepwater". pipeline. Tier 1 production from the Sable Project began in late 1999 from three offshore fields -- North Triumph, Venture, and Thebaud -- and is processed at two onshore facilities in Nova Scotia. Alma is the first Tier 2 field; the second Tier 2 field, South Venture, is currently under development in Halifax. Production is expected from South Venture in late 2004. The Sable Project is owned by ExxonMobil Canada (50.8 percent), Shell Canada Limited (31.3 percent), Imperial Oil Resources (9 percent), Pengrowth Corp. & Emera Offshore Inc. (pending sale to Pengrowth Corp., closing mid-December) (8.4 percent) and Mosbacher Operating Ltd. (0.5 percent). Natural gas from the Sable Project is transported to markets in the Canadian Maritime Provinces and to the Northeastern United States via the Maritimes and Northeast Pipeline (ExxonMobil interest: 12.5 percent). CAUTIONARY STATEMENT: Estimates, expectations, and business plans in this release are forward-looking statements. Actual future results, including production rates and project plans and schedules, could differ materially due to changes in market conditions affecting the oil and gas industry, political developments, technical or operating factors, and other factors discussed under the heading "Factors Affecting Future Results" included in Item 1 of ExxonMobil's most recent Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and posted on our website (www.exxonmobil.com). |
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