Thursday December 4, 01:25 PM
Sakhalin-1 Project Receives Award for Excellence from International Petroleum Technology Conference |
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Kuala Lumpur, Malaysia, Thursday, December 04, 2008 -- (Business Wire India) --
ExxonMobil announced that the Sakhalin-1 project has earned the
Excellence in Project Integration Award from the committees and
sponsoring societies of the International Petroleum Technology
Conference (IPTC).
The award recognizes the project for successfully integrating geoscience
knowledge; reservoir and production engineering; construction and
facilities engineering practices; safety, health and environmental
processes; human resources policies; community programs; and overall
project teamwork.
“We are extremely proud of the Sakhalin-1 project achievements,” said
Mark Albers, senior vice president, Exxon Mobil Corporation (NYSE:XOM).
“The Sakhalin-1 project is one of the largest energy investments in
Russia and is a testament to international cooperation to successfully
execute this project in one of the most challenging arctic environments
in the world in a safe and environmentally responsible manner.”
Exxon Neftegas Limited (ENL), an ExxonMobil affiliate, holds a 30
percent interest in and operates the multi-billion dollar Sakhalin-1
project.
The project received the award at a banquet at the Kuala Lumpur
Convention Centre on the opening day of the conference, which more than
4,000 oil and gas scientists, engineers and other professionals from
throughout the world are attending. The sponsoring organizations for the
IPTC include the American Association of Petroleum Geologists, the
European Association of Geoscientists and Engineers, the Society of
Exploration Geophysicists, and the Society of Petroleum Engineers.
Since 2005, the Sakhalin-1 project to develop the Chayvo field in the
Sea of Okhotsk has produced more than 157 million barrels of crude oil
for export to world markets. It also has been a key supplier of natural
gas to Russia’s Far East. Consumers there have received over 105 billion
cubic feet of gas to heat their homes and meet growing energy needs. Gas
produced by the project will continue to help meet natural gas demand in
this region for many years to come.
Sakhalin-1 project development has involved many accomplishments:
Three-dimensional seismology, invented by ExxonMobil, increased
exploration success and reduced finding costs.
To plan operations in seas with ice six feet thick, state-of-the-art
computer models, based on 5 years of ice data, calculated ice loads on
the offshore production platform.
The design of the facilities is protective of the Western Gray Whale,
the Orlan eagle and other wildlife native to Sakhalin Island.
Employees have worked over 80 million hours with industry-leading
safety performance.
Detailed and integrated front-end execution planning, utilizing a
phased development strategy and a large module “plug-and-play”
approach, allowed the project to capture efficiencies and minimize
risk.
The world's most powerful land-based rig drilled vertically and
horizontally beneath the sea floor to the Chayvo field, located 5 to 7
miles (8 to 11 kilometers) offshore to set 17 world records for
extended-reach drilling. It also set new records for drilling speed.
Contracts valued at over $5 billion have been awarded to Russian
companies or joint ventures.
The project has funded over $120 million in Sakhalin infrastructure
improvements, including hospitals, clinics, roads, bridges, harbors,
airports, and power and water facilities. It also has provided over
$3.5 million in charitable contributions to local community
organizations, including health, youth, arts and civic projects.
The co-venturers with ENL in the Sakhalin-1 project include the Japanese
consortium SODECO (30 percent), the Indian state-owned oil company ONGC
Videsh Ltd. (20 percent), and affiliates of Rosneft, the Russian
state-owned oil company, Sakhalinmorneftegas-Shelf (11.5 percent) and
RN-Astra (8.5 percent).
In addition to the Sakhalin-1 project, another development in which
ExxonMobil has an interest, the RasGas LNG Train 5 project, is also a
2008 IPTC award recipient.
More information about the Sakhalin-1 project is available at http://www.sakhalin1.com.
CAUTIONARY STATEMENT: Statements in this release regarding future events
and conditions are forward-looking statements. Actual future results
could differ materially due to changes in long-term oil and gas price
levels or other market conditions affecting the oil and gas industry;
political or regulatory developments; reservoir performance; technical
or operating factors; the outcome of commercial negotiations; and other
factors discussed under the heading "Factors Affecting Future Results"
posted in the Investor Information section of our website (www.exxonmobil.com).
MULTIMEDIA AVAILABLE : http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5844312
Media contact details
CONTACTS :
ExxonMobil
Upstream Media Relations
713-656-4376
CONTACTS :
ExxonMobil
Upstream Media Relations
713-656-4376
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