4 January 2013
Details
ExxonMobil announced today
* it will develop the Hebron oilfield project offshore
the Canadian province of Newfoundland and Labrador
* to produce more than 700 million barrels of oil
* by using a gravity-based platform designed for
daily oil production of 150,000 barrels
* first oil production is anticipated end of 2017 with
* estimated capital cost of this project at US $ 14 billion.
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About Hebron project
* Hebron is one of large-scale oil developments that
ExxonMobil will bring on stream in the next five years.
* Shareholders Equity
- ExxonMobil Canada Properties 36 %
(as operator)
- Chevron Canada Limited 26.7 %
- Suncor Energy Inc. 22.7 %
- Statoil Canada 9.7 %
- Nalcor Energy Oil and Gas 4.9 %
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* The Hebron field is located offshore
Newfoundland and Labrador in the Jeanne d'Arc Basin
- more than 200 miles (350 kilometers) southeast of
the capital of St.John's and
- about 19 miles (32 kilometers) southeast of
ExxonMobil's Hibemia project.
* Water Depth is approximately 300 feet (92 meters)
* Progress of the project
- Front End Engineering Design was completed last year and
- Detail Engineering Design is in significant progress.
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* Technology
- Hebron will be developed using a
stand-alone gravity-based structure
consisting of reinforced concrete
designed to withstand sea ice, icebergs and
meteorological and oceanographic conditions
- The base will be designed to store approximately
1.2 million barrels of crude oil and
will support an integrated topside deck that
includes a living quarters and facilities to
perform drilling and production
- Contruction of gravity-based structure is underway at
project's primary construction site in Bull Arm,
Newfoudland and Labrador
- Topside fabrication is expected to begin later this year.
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* Benefits to the province including
- employment for up to 3,500 people during construction
in the province
- royalties and taxes to fund provincial infrastructure,
social programs and services
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