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Article: Exxon Mobil starts production off coast of Angola
- Article from:
- AP Worldstream
- Article date:
- January 9, 2008
- Author:
CopyrightCopyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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Exxon Mobil Corp. said Wednesday it has begun oil production from a multibillion-dollar project off the west African coast. The company plans to drill more wells there than any of its other offshore sites.
The world's largest publicly traded oil company is the operator and 40 percent equity stakeholder in the Kizomba C development, located in about 2,400 feet (731 meters) of water roughly 90 miles (145 kilometers) off the coast of Angola.
Exxon Mobil's total investment will be about $2 billion (1.36 billion), Neil Duffin, president of Exxon Mobil Development Co., told The Associated Press. The other equity participants are BP Exploration Ltd. (26.67 percent), ENI Angola ...