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EXXON MALAYSIAN AFFILIATE STARTS UP OFFSHORE OIL PLATFORM



IRVING, Texas, June 20 /PRNewswire/ -- Esso Production Malaysia Inc. (EPMI EPMI Enterprise Portfolio Management Investment ), a wholly owned affiliate of Exxon Corporation (NYSE NYSE

See: New York Stock Exchange
: XON XON - control-Q ), announced today that the Guntong D platform offshore Peninsular Malaysia has started production at an initial rate of 25,000 barrels of oil per day. Exxon's interest in the Guntong field is 78 percent, with PETRONAS PETRONAS Petroliam Nasional Berhad (Malaysia's national petroleum corporation established 1974)  Carigali holding the other 22 percent.

"The addition of the Guntong D production brings total Guntong field production to 100,000 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. . As the Guntong D drilling program continues, it will enable EPMI to maintain current field production levels for the next several years," according to E. M. Flint, managing director of EPMI. The Exxon-operated Guntong field is located 130 miles offshore Peninsular Malaysia.

Guntong D is the fourth platform in the Guntong field, one of the largest oil fields operated by EPMI. A total of 40 wells are planned for the Guntong D platform. The new platform has a target production rate of 80,000 barrels per day. The earlier platforms Guntong A, B and C were installed in the 1980s.

The $400 million project involved the installation of offshore production and compression platforms, living quarters and an insulated pipeline. This is the first pipeline in the world to be installed with concrete coating over syntactic polyurethane insulation. The insulation prevents the oil from cooling below the temperature where wax build-up would occur on the inside of the pipeline.

Mr. Flint noted that work on fabrication, pipe coating, installation, hook-up and commissioning, which totaled more than 5.3 million man-hours, was successfully completed without incurring any lost time injury. "We are particularly pleased with the high level of safety performance of all our contractors," he said.

EPMI's offshore production in Malaysia accounts for more than eight percent of Exxon's net oil and gas volumes. EPMI is the largest oil producer in Malaysia, operating 26 oil and gas platforms in 8 producing fields. EPMI also is the largest supplier of natural gas to Peninsular Malaysia. In 1994, EPMI's net production was 153,000 barrels a day of oil and gas liquids and 419 million cubic feet a day of natural gas.
    -0-                     6/20/95


/CONTACT: Tom Cirigliano of Exxon Corp., 214-444-1109/

(XON)

CO: Exxon Corporation; Esso Production Malaysia Inc. ST: Texas IN: OIL SU:

PS -- NY031 -- 7473 06/20/95 09:37 EDT
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Copyright 1995 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jun 20, 1995
Words:391
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