ExxonMobil Announces Nigerian Deepwater Discovery

January 25, 2002 at 3:52 PM EST
IRVING, Texas, Jan 25, 2002 (BUSINESS WIRE) -- Exxon Mobil Corporation today announced that its subsidiary, Esso Exploration and Production Nigeria (Deepwater) Ltd., has participated in a significant deepwater oil discovery, Bolia, which is located on Oil Prospecting License (OPL) 219, offshore Nigeria.

The Bolia-1X discovery well was drilled in 3,600 feet (1,100 meters) of water to a total depth of 13,050 feet (3,978 meters) and encountered an oil-bearing reservoir that flowed at a test rate of 6,000 barrels per day. Additional studies and data analysis are underway to fully evaluate this discovery.

In addition to Esso (20 percent interest) other participants in OPL 219 are Shell Nigeria Exploration and Production Company Ltd. (Operator, 55 percent interest), Elf Petroleum Nigeria Ltd. (12.5 percent interest), and Nigeria Agip Exploration (12.5 percent interest). Nigerian National Petroleum Corporation (NNPC), the Nigerian national oil company, is the concessionaire of the block.

ExxonMobil deepwater interests in Nigeria include the Erha discovery (ExxonMobil, operator, 56.2 percent interest) in OPL 209 and the Bonga and Bonga Southwest discoveries (ExxonMobil interest 20 percent) located in Oil Mining License (OML) 118.

In addition to deepwater interests in Nigeria, ExxonMobil's subsidiary, Mobil Producing Nigeria, operates a joint venture with the NNPC that produces an average of 650,000 barrels per day of petroleum liquids. 

CONTACT:          ExxonMobil
                  Marcia Zelinsky, 713/656-4376

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