ExxonMobil discovers 1bn barrel oil offshore
Exxon Mobil Corporation says it has made a significant discovery of between 500 million and 1 billion barrels of oil on the Owowo field offshore Nigeria.
ExxonMobil, the largest publicly traded international oil and gas company, said in a statement yesterday that the Owowo-3 well had a 460-foot column of oil-soaked rock. The well is 10,410 feet deep.
Exxon is the operator of the project (OPL 223 and OML 139) and owns 27 percent stake. Other joint venture partners include Chevron Nigeria Deepwater (27% interest), Total E&P Nigeria and Nexen Petroleum Deepwater Nigeria (18 percent interest), and the Nigeria Petroleum Development Company Limited (10%).
“We are encouraged by the results and will work with our partners and the government on future development plans,” Stephen M. Greenlee, president of ExxonMobil Exploration Company, said.
The Owowo field spans portions of the contract areas of Oil Prospecting License 223 (OPL 223) and Oil Mining License 139 (OML 139).
The well was drilled by ExxonMobil affiliate, Esso Exploration and Production Nigeria (Deepwater Ventures) Limited and proved additional resource in deeper reservoirs