IRVING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM) announced today that its subsidiary, Esso Exploration and Production Nigeria Limited, has started oil production ahead of schedule at the Erha North Phase 2 project offshore Nigeria.

The Erha North Phase 2 project is a deepwater subsea development located 60 miles offshore Nigeria in 3,300 feet of water and four miles north of the Erha field, which has been producing since 2006. The Erha North Phase 2 project includes seven wells from three drill centers tied back to the existing Erha North floating production, storage and offloading vessel, reducing additional infrastructure requirements.

The project is estimated to develop an additional 165 million barrels from the currently producing Erha North field. Peak production from the expansion is currently estimated at 65,000 barrels of oil per day and will increase total Erha North field production to approximately 90,000 barrels per day.

“Executing successful projects such as Erha North Phase 2 ahead of schedule and under budget results from ExxonMobil’s disciplined project management approach and expertise,” said Neil W. Duffin, president of ExxonMobil Development Company. “We are able to create additional shareholder value by optimizing existing infrastructure, which reduces capital spending requirements and improves capital efficiency.”

Duffin said the ahead-of-schedule startup was supported by strong performance from Nigerian contractors, which accounted for more than $2 billion of project investment for goods and services, including subsea equipment, facilities and offshore installation.

“These contracts are bringing direct and indirect benefits to the Nigerian economy through project spending and employment, consistent with project objectives,” Duffin said.

ExxonMobil expects to increase its global production volumes this year by 2 percent to 4.1 million oil-equivalent barrels per day, driven by 7 percent liquids growth. The volume increase is supported by the ramp up of projects completed in 2014 and the expected startup of major developments in 2015.

The Erha North field was discovered in 2004 and initial production commenced in 2006. Operator Esso Exploration and Production Nigeria Limited holds a 56.25 percent interest in Erha North Phase 2, while Shell Nigeria Exploration and Production Company holds the remaining 43.75 percent share.
http://news.exxonmobil.com/press-release/exxonmobil-starts-oil-production-erha-north-phase-2-project-ahead-schedule-and-well-un
Cc lalasticlala

Ok I yaf ear


But what is produced...crude oil or refined products

Continue

Before the noise, let's clarify somethings

This project started early engineering in 2012 and progressed into proper r execution in 2013 by three major EPC contractors

This project will add 65KBD only at ppeak production envisaged for 2016. Early wells are producing 10KBD as at today

Thanks to GEJ who insisted that all major fabrication be done in-country despite efforts by the contractors to move it in their home countries. Nigerdock, Aveon, Globestar etc were key beneficiaries.

Esso Exploration and Production Nigeria Limited holds a 56.25 percent interest in Erha North Phase 2, while Shell Nigeria Exploration and Production Company holds the remaining 43.75


Anyway, since kachichuwkwu became GMD of NNPC, I noticed mobil has been in the news of late.

I am not supprised

No problem, Infact it's great if it will help reduce the labor market capacity and not just exploit us

Okay o. Could this be attributed to hurricane kachikwu

Aii

Wow

this will bring benefits to Nigeria economy and also employments.
good one.

Good

Ok...

1. I hope Niger-Delta Militants and their bosses would not attack this field.
2. With kachikwu, all oil majors would strength their businesses in Nigeria.
3. 65,000 Bpd means ...refined crude or raw crude

Will that increase USD against NAIRA?


Because I don't pray nairA should drop at this crucial point in time

ok

blood suckers have been unleashed on Nigerian Oil

so should i be happy or what? what kind of stupid news is this.

From your level of exposue should it be refined product? so which one comes first egg or the chicken?

DEXTROVERT:
Ok I yaf ear


But what is produced...crude oil or refined products

Abeg where was NNPC when these guys were acquiring ownership of our OWN oil?

Check my signature Call or whatsapp

https://www.nairaland.com/2582274/toks-2008-toyota-fj-cruiser

ok

how does this news affect the masses?

i propose we continue an aggresive gas production as opposed to oil production. we are xperiencing an oil glut in the market. thankfully NLNG has bben a success story due to the sustained investment of NNPC and its strategic shareholders as well as FG's commitment beginning from 1991 all the the way to 2014 . we compete favourably with our peers across the globe. companies like Seplat, orient Energy, Seven Energy, Falcon Petroleum, Oando and their likes should pursue aggresive investment in gas exploration for energy and industralisation. Nigeria is blessed with gas reseverves all the way from the Anambra Basin down to the gulf of guinea. we could do well here. my humble contribution.

This is good

Has it added to the socio economic wellbeing of the suffering masses,rubbish and stupid news item.

Clap for them

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