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EXXON REPORTS $2.0 BILLION BRENT FIELD REDEVELOPMENT APPROVED IN THE NORTH SEA

 IRVING, Texas, April 6 /PRNewswire/ -- Exxon Corporation (NYSE: XON) announced today that approval has been received from the Department of Trade and Industry of the United Kingdom for a $2.0 billion expenditure plan for the redevelopment of the Brent Field in the U.K. sector of the North Sea. Exxon and Shell each hold a 50 percent interest in the field.
 The Brent Redevelopment Project, scheduled for completion in 1998, provides for low pressure operations which will extend the life of the field well beyond year 2000 and will substantially increase the ultimate recovery of both oil and gas. To accomplish this, significant parts of the existing facilities will be modified and refurbished.
 The Brent Redevelopment Project also will involve modifications on existing equipment as part of an ongoing process to maintain and improve the high level of safety required on offshore platforms.
 The Brent field has four production platforms, three of which will receive new process modules, and one which will also receive new living quarters as well.
 The Brent field, which is one of the largest in the North Sea, is situated 116 miles northeast of Lerwick, Shetland. It was discovered in July 1971 and declared commercial in August 1972. First production from the field was on Nov. 11, 1976.
 Exxon has had operations in the United Kingdom for more than 100 years and was one of the pioneers in North Sea exploration and production activity. The company is one of the larger participants in the U.K. sector of the North Sea. The Brent Redevelopment Project reflects a continuation of Exxon's long-term involvement in the U.K. petroleum business.
 -0- 4/6/93
 /CONTACT: Ed Burwell of Exxon, 214-444-1107 or -1108/
 (XON)


CO: Exxon Corporation ST: Texas IN: OIL SU:

GK -- NY016 -- 0159 04/06/93 09:59 EDT
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Publication:PR Newswire
Date:Apr 6, 1993
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