ExxonMobil to develop Gulf oil fieldMay 9, 2013
A. Lee Graham
Exxon Mobil Corp. of Irving has announced plans to develop the Julia oil field in the Gulf of Mexico.
Production is expected to begin in 2016, with capital costs for the project estimated at more than $4 billion. Discovered in 2007, the field is estimated to harbor almost six billion barrels of resource.
“The development of Julia will provide a new source of domestic energy and well-paying jobs over the next several years,” said Neil W. Duffin, president of ExxonMobil Development Co., commenting in a news release.
“Access to resources such as Julia will contribute to U.S. energy security for many years to come,” Duffin said.
The first phase is expected to handle 34,000 barrels of oil a day and includes six wells with subsea tie-backs to the Jack & St. Malo production facility operated by Chevron USA Inc.
“Julia is one of the first large oil discoveries in the ultra-deepwater frontier of the Gulf of Mexico,” Duffin said of a resource located more than 30,000 feet below the ocean’s surface.
ExxonMobil, the operator, and Statoil Gulf of Mexico LLC each hold a 50-percent interest in the Julia unit. The past decade has seen ExxonMobil drill 36 deepwater wells in the Gulf of Mexico in water ranging from 4,000 feet to 8,700 feet.
Exxon Mobil Corp., the largest publicly traded international oil and gas company, refines and markets petroleum products. More information is available at www.exxonmobil.com