Enterprise Genesis form joint venture SEKCO

Enterprise and Genesis form joint venture for SEKCO

11:17 PM, 4th January 2012
Enterprise and Genesis form joint venture for SEKCO
Michael A Creel, President and Chief Executive Officer, Enterprise’s General Partner.

HOUSTON, US: Enterprise Products Partners LP and Genesis Energy announced that they have executed crude oil transportation agreements with a consortium of six Gulf of Mexico producers which will provide the necessary support for construction of a new crude oil gathering pipeline serving the Lucius development area in southern Keathley Canyon. The pipeline will be constructed and owned by Southeast Keathley Canyon Pipeline Company LLC (SEKCO), a 50/50 joint venture between Enterprise and Genesis. The producer group is comprised of Anadarko US Offshore Corporation, Apache Deepwater Development LLC, Exxon Mobil Corporation, Eni Petroleum US LLC, Petrobras America, and Plains Offshore Operations.

The SEKCO Oil Pipeline is expected to begin service by mid 2014. The Lucius production area is estimated to have more than 300 million barrels of oil equivalent, with relatively shallow and highly productive reservoirs, primarily comprised of crude oil. “We expect the SEKCO Oil Pipeline to provide capacity for additional projects in the deepwater Gulf of Mexico that will feed Enterprise’s downstream crude oil pipeline value chain,” said Michael A Creel, President and Chief Executive Officer, Enterprise’s General Partner.

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