ExxonMobil Oil Production to Increase from On-Time Startup of CLOV Project

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  • Total-operated project in Angola Block 17 has daily production capacity of 160,000 barrels
  • ExxonMobil’s 20 percent working interest signals ongoing commitment to Angola
  • Thirty-four wells and floating production storage and offloading vessel to produce offshore fields of Cravo, Lirio, Orquidea and Violeta

IRVING, Texas--(BUSINESS WIRE)-- Exxon Mobil Corporation (NYSE:XOM) today announced the CLOV project in Angola started up on schedule and is expected to reach daily production capacity of 160,000 barrels in the coming months.

CLOV is the fourth major development hub of Total-operated Block 17, after Girassol, Dalia and Pazflor. An ExxonMobil affiliate has a 20 percent working interest in CLOV, which will produce oil from the four fields of Cravo, Lirio, Orquidea and Violeta at water depths ranging from 3,600 feet to 4,593 feet.

“Block 17, along with Esso Angola-operated Block 15, in which the company has a 40 percent working interest, are the most productive blocks in Angola,” said Neil Duffin, president of ExxonMobil Development Company.

CLOV, located 87 miles offshore Luanda, includes 34 wells and eight manifolds connected by 112 miles of subsea pipelines to a floating production storage and offloading vessel and crude oil offloading terminal.

The 1,000-foot-long, 197-foot-wide vessel can store up to 1.8 million barrels of oil. Natural gas produced at CLOV will be exported through a subsea pipeline to an Angola liquefied natural gas plant in Soyo.

CLOV produces two types of oil from the Miocene and Oligocene geological horizons. Miocene oil is more viscous than Oligocene oil and required a subsea multiphase pump system for transportation to boost co-mingled fluid and enhance oil recovery.

The project was completed with more than 10 million hours performed by a local workforce to complete fabrication and assembly of the storage and offloading vessel in Angola. The water treatment module, a critical component of the vessel, was built and installed in Angola, a first for the country. The project also provided training programs for local personnel and played a part in enhancing the country’s socio-economic development.

“CLOV is another indication of ExxonMobil’s commitment to Angola, where we have been involved for about 20 years,” Duffin said. “ExxonMobil continues to evaluate additional development opportunities in the country.”

Sonangol is the concessionaire for Block 17. Total has 40 percent interest, Statoil has 23.33 percent, and BP has 16.67 percent.

ExxonMobil affiliates’ Angola interests also include 15 percent of the Kaombo project, located in southeast area of Block 32, which launched development of six fields in April. Production in Block 15 from Kizomba Satellite Phase 1 started in 2012 and Phase 2 project development is underway with production startup targeted for 2015.

CAUTIONARY STATEMENT: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, schedules, costs, and capacities could differ materially due to changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments; reservoir performance; timely completion of development projects; technical or operating factors; the outcome of future commercial negotiations; and other factors discussed under the heading "Factors Affecting Future Results" in the Investor Information section of our website (www.exxonmobil.com) and in Item 1A of our most recent Form 10-K. References to quantities of gas include volumes that are not yet classified as proved reserves under SEC rules but that we believe will be produced in the future. The term "project" as used in this release does not necessarily have the same meaning as under any government payment transparency reporting rules.

Exxon Mobil Corporation
Upstream Media Relations, 713-656-4376

Source: Exxon Mobil Corporation

Released June 12, 2014