Exxon Mobil commence Julia oil field development

Exxon Mobil to commence Julia oil field development

9:46 AM, 8th May 2013
Exxon Mobil to commence Julia oil field development

IRVING, US: Exxon Mobil Corporation is commencing development of the Julia oil field in the Gulf of Mexico. Capital cost for the project, which is expected to begin oil production in 2016, is estimated to be more than $4 billion. The field was discovered in 2007 and is estimated to have nearly six billion barrels of resource in place.

The initial development phase is being designed for daily production of 34,000 barrels of oil and includes six wells with subsea tie-backs to the Jack & St Malo production facility operated by Chevron US Inc. Julia project front end engineering design has been completed and the engineering, procurement and construction contracts have been placed.

“The development of Julia will provide a new source of domestic energy and well-paying jobs over the next several years. Access to resources such as Julia will contribute to US energy security for many years to come. Julia is one of the first large oil discoveries in the ultra-deepwater frontier of the Gulf of Mexico. This resource is located more than 30,000 feet below the ocean’s surface. Enhanced technologies will be deployed to ensure the safe and environmentally responsible development of this important energy resource,” said Neil W Duffin, President, ExxonMobil Development Company.

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