ExxonMobil Awarded New Operatorship Rights on Norwegian Continental Shelf.Energy Editors/Business Editors IRVING, Texas--(BUSINESS WIRE)--June 8, 2004 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 its subsidiary, Esso Exploration and Production Norway AS, has been awarded operatorship and 30 percent ownership interest in a new license in the southern North Sea on the Norwegian Continental Shelf The Norwegian continental shelf is the continental shelf over which Norway exercises sovereign rights as defined by the United Nations Convention on the Law of the Sea. Its major parts are the shelves of the North Sea, Norwegian Sea and Barents Sea, with the sector line in the . The operatorship covers blocks 8/6, 9/2-6, 10/4, 10/7-9 and 11/7, and is located in the Norwegian-Danish basin, approximately 60 miles (100 kilometers) southwest of Egersund. Other parties to be awarded interest in the license are Statoil (30 percent), SDFI SDFI Secure Digital Forensic Imaging (30 percent) and RWE RWE Rot-Weiss Essen (Germann football club) RWE Ralph Waldo Emerson RWE Rheinisch-Westfälische Elektrizitätswerke (German Power Supplier) RWE Read Write Execute RWE Right Wing Extremist Dea (10 percent). "We are very pleased to receive this award in the 18th round in a previously unexplored area of the Norwegian Continental Shelf," said Tim Cejka, president of ExxonMobil Exploration Company. "We believe that the continued pursuit of new ideas and the opening of new acreage is essential to prolonging successful oil and gas exploration in Norway." Last year, ExxonMobil's exploration program on the Norwegian Continental Shelf yielded three discoveries from five operated exploration wells, two of which were near the Ringhorne field and one in the Voring basin. In addition, ExxonMobil announced that it encountered hydrocarbons in a new discovery (Block 16/1) in the Utsira High area just two weeks ago. ExxonMobil is the operator of the Ringhorne, Balder and the Jotun fields, which are all located on the Utsira High area. Ringhorne is located about five miles (10 kilometers) northeast of the Balder field in blocks 25/8, 25/10 and 25/11. ExxonMobil is the sole owner of Ringhorne and Balder, and owns 45 percent of Jotun. Other Jotun owners are Shell/Enterprise (45 percent), Lundin (7 percent) and Petoro (3 percent). The fields are operated by the company's upstream organization located in Forus outside Stavanger. ExxonMobil, currently the largest international producer on the Norwegian Continental Shelf, had 2003 net total production in Norway of 391,000 oil-equivalent 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. . CAUTIONARY STATEMENT: Expectations and business plans in this release are forward-looking statements. Actual future results, including resource discovery, development, and production, could differ materially due to changes in long-term oil and gas price levels or other market conditions affecting the oil and gas industry; political or regulatory developments; the outcome of commercial negotiations; 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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