CORRECTING and REPLACING ExxonMobil Recognized for Industry-Leading Approach to Develop Angola Deepwater Projects
HOUSTON--(BUSINESS WIRE)-- Please replace the release with the following corrected version due to multiple revisions.
The Kizomba B development in Angola Block 15 utilizes a tension leg platform and a floating production, storage, and offloading (FPSO) vessel developed by ExxonMobil through the "Design One Build Multiple" strategy. The Offshore Technology Conference presented ExxonMobil Development Company with a special citation for its industry-leading approach to Angola deepwater project development. (Photo: Business Wire)
The corrected release reads:
EXXONMOBIL RECOGNIZED FOR INDUSTRY-LEADING APPROACH TO DEVELOP ANGOLA DEEPWATER PROJECTS
The Offshore Technology Conference (OTC) presented ExxonMobil Development Company with a special citation for the development and implementation of the "Design One, Build Multiple" strategy that successfully delivered large-scale deepwater projects offshore Angola on Block 15 that achieved peak production of over 700,000 barrels of oil per day.
The projects in Block 15, approximately 90 miles off the coast of Angola, established industry benchmarks for completion time and unit development costs for deepwater projects of their size and complexity. To date, over one billion of the five billion barrels discovered on the block have been produced. Current production is approximately 500,000 barrels per day.
The company received the award at the annual dinner for the world's largest conference for offshore development at the George R. Brown Convention Center in Houston. Susan Cunningham, chair of the OTC Board of Directors, said, "Each year, OTC recognizes individuals and companies that have made outstanding contributions to the offshore industry. ExxonMobil Development earned this honor for its industry-leading approach to Angola deepwater project development."
"The success of our Design One, Build Multiple strategy in Angola would not have been possible without the collaboration in a shared vision among ExxonMobil, Sonangol and Block 15 contractor group," said Jeff Woodbury, executive vice president of ExxonMobil Development Company. "The timely and cost-efficient development of Angola Block 15 helped position Angola as a key supplier to the world's demand for energy."
Between 2003 and 2008, ExxonMobil Development applied the "Design One, Build Multiple" strategy to deliver two tension leg platforms and five of the world's largest floating production, storage and offloading vessels to Block 15. The use of many of the same suppliers, service providers and workers, including Angolans, to build and install the facilities enhanced safety, quality, efficiency and reliability.
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world's growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is the largest refiner and marketer of petroleum products, and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com.
Note to Editors
Exxon Mobil Corporation (NYSE:XOM) subsidiary Esso Exploration Angola (Block 15) Limited (Esso Angola) is Block 15 operator, with 40 percent interest. Other participants in Block 15 are BP Exploration (Angola) Limited (26.67 percent), ENI Angola Exploration B.V. (20 percent) and Statoil Angola Block 15 A/S (13.33 percent). Sonangol is the Concessionaire.
More information on the operations at Angola Block 15 is available at http://www.exxonmobil.com/Corporate/energy_production_deepwater_angola.aspx
Source: Exxon Mobil Corporation
Released May 2, 2011