Mobil Confirms Oil Discovery in Venezuela.FAIRFAX, Va.--(BUSINESS WIRE)--April 22, 1998--Mobil today confirmed an oil discovery located in Eastern Venezuela in which a subsidiary company, Ampolex (Venezuela) Inc. holds a 25 percent interest. Astra Produccion Petrolera S.A., a subsidiary of Astra CAPSA CAPSA Concerned Asian Pacific Students for Action controlled by Repsol S.A., which has a 25 percent working interest, is the operator of the Quiamare - La Ceiba La Ceiba is a port city on the northern coast of Honduras, Central America on the Caribbean Sea on the south eastern edge of the Gulf of Honduras. With a population of about 250,000, it is the third largest city in the country and the capital of the Honduran department of block and has reported that the discovery well, Tacata TAG 12 E, produced oil from three intervals at a combined rate of 16,000 barrels a day through a variety of choke sizes ranging from one half to three-quarters of an inch. The well is situated in Quiamare - La Ceiba which covers a 632 square mile area. Currently, 15,000 barrels of oil a day is being produced from this block. Two other companies, Sipetrol S.A. of Chile and Tecpetrol S.A. of Argentina, each hold a 25 percent interest. "We are pleased with the continued exploration success Mobil has had on property acquired with the Ampolex purchase," said Lou Allstadt, President of America's Exploration and Producing and Executive Vice President Mobil Oil Corporation. "This builds upon the successes we have had on other Ampolex properties such as Papua New Guinea Papua New Guinea (păp`  ə, –y and off the North West coast of Western Australia Western Australia, state (1991 pop. 1,409,965), 975,920 sq mi (2,527,633 sq km), Australia, comprising the entire western part of the continent. It is bounded on the N, W, and S by the Indian Ocean. Perth is the capital. ." Mobil is actively involved in exploration and producing activities in 34 countries on six continents Six Continents is a large retail PLC in UK which split into Six Continents Retail known as Mitchells and Butlers plc. The hotels and soft drinks business of Six Continents PLC is now known as InterContinental Hotels Group PLC. and manufactures a wide range of high quality fuels and lubricants lubricants preparations for the lubrication of passages to reduce frictional injury, e.g. oily preparations, including petroleum jelly, lanolin or water-soluble preparations such as methyl cellulose. and other products at 21 refineries located in thirteen countries. The company marketed and refined over 42 billion gallons of motorfuels and lubricants in 1997. For more news and information about Mobil, please see us on the World Wide Web at www.mobil.com/news. CONTACT: Mobil Corp. Tom Cooney, 703/846-4476 |
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