ExxonMobil Starts Production at Point Thomson
April 22 2016 - 1:00PM
Business Wire
- Production to reach up to 10,000
barrels per day of natural gas condensate
- Project demonstrates ExxonMobil
commitment to developing North Slope natural gas
- Alaskans and Alaska-owned companies
played critical role in project development
ExxonMobil said today it has started production at its Point
Thomson project, the first company-operated project on Alaska’s
North Slope.
Central pad facilities are designed to initially produce about
5,000 barrels per day of condensate and 100 million standard cubic
feet per day of recycled gas. The recycled gas is re-injected for
future recovery. At full rate production, the facility is designed
to produce up to 10,000 barrels per day of natural gas condensate
and 200 million cubic feet of recycled gas. It is anticipated to
reach that level when the west pad well is online in a few
months.
The Point Thomson reservoir holds an estimated 8 trillion cubic
feet of natural gas and associated condensate – a high-quality
hydrocarbon similar to kerosene or diesel. The resource represents
25 percent of the known gas on the North Slope. Potential future
development will depend on a range of factors such as business
considerations, investment climate, and the fiscal and regulatory
environment.
“The successful startup of Point Thomson demonstrates
ExxonMobil’s project management expertise and highlights its
ability to execute complex projects safely and responsibly in
challenging, remote environments such as the North Slope in
Alaska,” said Neil W. Duffin, president of ExxonMobil Development
Company.
ExxonMobil and the working-interest owners have invested
approximately $4 billion in the development of Point Thomson
production facilities through 2015. About 100 Alaskan companies
have contributed to the success of the project, and thousands of
people worked onsite and around the state during peak construction
activity.
“Our strong partnership with Alaskans and Alaska-owned companies
played a critical role in helping to complete this major project,”
Duffin said. “It further reinforces our commitment to pursuing the
development of Alaska’s natural gas resources.”
Point Thomson is located on state acreage along the Beaufort
Sea, 60 miles east of Prudhoe Bay and 60 miles west of the village
of Kaktovik.
About ExxonMobil
ExxonMobil, the largest publicly traded international oil and
gas company, uses technology and innovation to help meet the
world’s growing energy needs. ExxonMobil holds an industry-leading
inventory of resources and is one of the world’s largest integrated
refiners, marketers of petroleum products and chemical
manufacturers. For more information, visit www.exxonmobil.com or
follow us on Twitter www.twitter.com/exxonmobil.
CAUTIONARY STATEMENT: Estimates, expectations, and business
plans in this release are forward-looking statements. Actual future
results, including production rates, ultimate recoveries, and
project plans, capacities and schedules, could differ materially
due to changes in market conditions affecting the oil and gas
industry or long-term oil and gas price levels; political or
regulatory developments; reservoir performance; timely completion
of development projects; technical or operating factors; and other
factors discussed under the heading "Factors Affecting Future
Results" in the Investor Information section of our website
(www.exxonmobil.com) and in Item 1A of our most recent Form 10-K.
References to quantities of gas and condensate include quantities
that are not yet classified as proved reserves but that we believe
will be produced in the future. The term "project" as used in this
release does not necessarily have the same meaning as under any
government payment transparency reporting requirements.
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