Exxon Spuds Dunquin Well Offshore Ireland

Irish explorer Providence Resources reported Tuesday that drilling has begun on the 44/23-1 well at the Dunquin exploration prospect in Frontier Licence 3/04 (FEL 3/04) off the west coast of Ireland.

Providence said that the operator, ExxonMobil, is expected to take several months to complete drilling operations using the Eirik Raude (DW semisub) rig.

Providence Chief Executive Tony O'Reilly commented in a company statement:

"We are pleased to confirm that drilling operations on the Dunquin exploration well have now commenced. This is a landmark well given that it is the first to be drilled in the central part of the deep-water southern Porcupine Basin and is designed to test a new and potentially material Lower Cretaceous carbonate exploration play concept. The 44/23-1 well is the second of six wells being drilled as part of Providence's Irish concerted multi-basin, multi-well drilling programme which kicked off in November 2011 with the Barryroe appraisal well."

The Dunquin target is a large gas prospects that is estimated to contain some 1.7 billion barrels of oil equivalent. Providence will be hoping that Exxon can replicate its own success in the Celtic Sea off the south coast of Ireland, where Providence's Barryroe discovery was recently estimated to contain recoverable resources of 346 million barrels of oil equivalent.

Exxon has a 27.5-percent interest in FEL 3/04. Its partners include: Eni, with 27.5 percent; Repsol, with 25 percent; Providence, with 16 percent; and Sosina Exploration, with four percent.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

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Exxon Spuds Dunquin Well Offshore Ireland

Irish explorer Providence Resources reported Tuesday that drilling has begun on the 44/23-1 well at the Dunquin exploration prospect in Frontier Licence 3/04 (FEL 3/04) off the west coast of Ireland.

Providence said that the operator, ExxonMobil, is expected to take several months to complete drilling operations using the Eirik Raude (DW semisub) rig.

Providence Chief Executive Tony O'Reilly commented in a company statement:

"We are pleased to confirm that drilling operations on the Dunquin exploration well have now commenced. This is a landmark well given that it is the first to be drilled in the central part of the deep-water southern Porcupine Basin and is designed to test a new and potentially material Lower Cretaceous carbonate exploration play concept. The 44/23-1 well is the second of six wells being drilled as part of Providence's Irish concerted multi-basin, multi-well drilling programme which kicked off in November 2011 with the Barryroe appraisal well."

The Dunquin target is a large gas prospects that is estimated to contain some 1.7 billion barrels of oil equivalent. Providence will be hoping that Exxon can replicate its own success in the Celtic Sea off the south coast of Ireland, where Providence's Barryroe discovery was recently estimated to contain recoverable resources of 346 million barrels of oil equivalent.

Exxon has a 27.5-percent interest in FEL 3/04. Its partners include: Eni, with 27.5 percent; Repsol, with 25 percent; Providence, with 16 percent; and Sosina Exploration, with four percent.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

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Aker Wins Exxon Umbilicals Supply Deal

Norwegian oilfield services firm Aker Solutions announced Friday that it has won a deal with ExxonMobil for the supply of subsea umbilicals to the Erha North Phase 2 development, offshore Nigeria.

Erha North Phase 2 is an extension of the existing Erha subsea system and infrastructure, located approximately 60 miles off Nigeria in water depths of between 3,300 and 3950 feet.

The scope of the work includes the delivery of two dynamic and two static steel tube umbilicals of a total length of approximately 10 miles. The umbilicals will be delivered in 2014.

"We are pleased to extend our global footprint and support ExxonMobil in Nigeria. Aker Solutions provides cost effective and technically advanced subsea umbilicals worldwide and we look forward to execute another deepwater project," Tove Roskaft, head of Aker Solutions' umbilicals business area, commented in a statement.

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Aker Wins Exxon Umbilicals Supply Deal

Norwegian oilfield services firm Aker Solutions announced Friday that it has won a deal with ExxonMobil for the supply of subsea umbilicals to the Erha North Phase 2 development, offshore Nigeria.

Erha North Phase 2 is an extension of the existing Erha subsea system and infrastructure, located approximately 60 miles off Nigeria in water depths of between 3,300 and 3950 feet.

The scope of the work includes the delivery of two dynamic and two static steel tube umbilicals of a total length of approximately 10 miles. The umbilicals will be delivered in 2014.

"We are pleased to extend our global footprint and support ExxonMobil in Nigeria. Aker Solutions provides cost effective and technically advanced subsea umbilicals worldwide and we look forward to execute another deepwater project," Tove Roskaft, head of Aker Solutions' umbilicals business area, commented in a statement.

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Aker Wins Exxon Umbilicals Supply Deal

Norwegian oilfield services firm Aker Solutions announced Friday that it has won a deal with ExxonMobil for the supply of subsea umbilicals to the Erha North Phase 2 development, offshore Nigeria.

Erha North Phase 2 is an extension of the existing Erha subsea system and infrastructure, located approximately 60 miles off Nigeria in water depths of between 3,300 and 3950 feet.

The scope of the work includes the delivery of two dynamic and two static steel tube umbilicals of a total length of approximately 10 miles. The umbilicals will be delivered in 2014.

"We are pleased to extend our global footprint and support ExxonMobil in Nigeria. Aker Solutions provides cost effective and technically advanced subsea umbilicals worldwide and we look forward to execute another deepwater project," Tove Roskaft, head of Aker Solutions' umbilicals business area, commented in a statement.

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Anadarko Has Talked With Exxon, Shell about Mozambique Gas Stake

Anadarko Petroleum Corp. has held early-stage talks with energy companies Exxon Mobil Corp. and Royal Dutch Shell PLC about selling a share of the U.S. oil firm's massive natural gas discoveries off the coast of Mozambique, a senior government official in the country said Thursday.

The discovery of trillions of cubic feet of natural gas offshore Mozambique by Anadarko and Italy's Eni SpA has piqued the interest of some of the world's leading energy companies, which are keen to get a foothold in an area well placed to serve energy-hungry Asian export markets.

Anadarko, an oil and gas exploration company based outside Houston, has said it wants to sell up to 10% of its share of the energy trove.

"We know of Shell speaking to Anadarko, and of talks with ExxonMobil," said the Mozambique official, who spoke on condition of anonymity. He said, however, that Anadarko's talks with the companies so far hadn't brought firm offers as this would have been communicated to the government.

Anadarko spokesman John Christiansen declined to say which potential buyers Anadarko was talking to.

"We've had a lot of interest from a lot of players--a lot of the majors are very interested," he added.

Exxon spokesman Alan Jeffers said: "We don't comment on potential business opportunities."

Shell declined to comment.

"They don't have to tell us which type of discussions; only when it is at a very, very advanced stage do they come to the government and see if we agree," said the Mozambique official. "We have always said a deal will be acceptable if the buyer satisfies the technical and financial requirements, that is all. It is up to the seller to decide."

While Anadarko and Eni have said they want to retain a share in the finds, both firms have sought out investors to allow them to bank some early profits and defray some of the costs of developing a giant liquefied natural gas plant to cool and ship the gas to Asia.

Eni Thursday announced a deal worth $4.21 billion to sell a 20% stake in its field to Chinese state-owned oil company China National Petroleum Corp.

Although Anadarko and Eni agreed in December to jointly develop an LNG plant, neither has extensive experience with building and operating LNG plants, which can cost up to 10s of billions of dollars. By contrast, Exxon and Shell are two of the world's leading LNG investors and shippers.

"Anadarko wants someone with LNG expertise," said the official.

For Shell, buying into Anadarko's license area would be its second attempt at getting a position in Mozambique. Last year, the Anglo-Dutch energy company was outbid by Thailand's PTT Exploration & Production, which snapped up Anadarko's junior partner in the field, London-listed Cove Energy, for $1.9 billion.

Ben Lefebvre in Houston contributed to this report.

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Anadarko Has Talked With Exxon, Shell about Mozambique Gas Stake

Anadarko Petroleum Corp. has held early-stage talks with energy companies Exxon Mobil Corp. and Royal Dutch Shell PLC about selling a share of the U.S. oil firm's massive natural gas discoveries off the coast of Mozambique, a senior government official in the country said Thursday.

The discovery of trillions of cubic feet of natural gas offshore Mozambique by Anadarko and Italy's Eni SpA has piqued the interest of some of the world's leading energy companies, which are keen to get a foothold in an area well placed to serve energy-hungry Asian export markets.

Anadarko, an oil and gas exploration company based outside Houston, has said it wants to sell up to 10% of its share of the energy trove.

"We know of Shell speaking to Anadarko, and of talks with ExxonMobil," said the Mozambique official, who spoke on condition of anonymity. He said, however, that Anadarko's talks with the companies so far hadn't brought firm offers as this would have been communicated to the government.

Anadarko spokesman John Christiansen declined to say which potential buyers Anadarko was talking to.

"We've had a lot of interest from a lot of players--a lot of the majors are very interested," he added.

Exxon spokesman Alan Jeffers said: "We don't comment on potential business opportunities."

Shell declined to comment.

"They don't have to tell us which type of discussions; only when it is at a very, very advanced stage do they come to the government and see if we agree," said the Mozambique official. "We have always said a deal will be acceptable if the buyer satisfies the technical and financial requirements, that is all. It is up to the seller to decide."

While Anadarko and Eni have said they want to retain a share in the finds, both firms have sought out investors to allow them to bank some early profits and defray some of the costs of developing a giant liquefied natural gas plant to cool and ship the gas to Asia.

Eni Thursday announced a deal worth $4.21 billion to sell a 20% stake in its field to Chinese state-owned oil company China National Petroleum Corp.

Although Anadarko and Eni agreed in December to jointly develop an LNG plant, neither has extensive experience with building and operating LNG plants, which can cost up to 10s of billions of dollars. By contrast, Exxon and Shell are two of the world's leading LNG investors and shippers.

"Anadarko wants someone with LNG expertise," said the official.

For Shell, buying into Anadarko's license area would be its second attempt at getting a position in Mozambique. Last year, the Anglo-Dutch energy company was outbid by Thailand's PTT Exploration & Production, which snapped up Anadarko's junior partner in the field, London-listed Cove Energy, for $1.9 billion.

Ben Lefebvre in Houston contributed to this report.

Copyright (c) 2012 Dow Jones & Company, Inc.

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Indonesian Minister in Iraq to Snap Up Exxon Field

JAKARTA - An Indonesian minister said Wednesday he was visiting Iraq later on in the day to help state-owned oil and gas company PT Pertamina acquire a stake in an oil block and also secure an additional 65,000 barrels of Basra light crude.

Indonesia's Coordinating Minister for the Economy Hatta Rajasa said Pertamina is eyeing up to a 20% stake in the West Tuba block in Iraq, which is owned by Exxon Mobil Corp.

"Exxon has got a new oil field in another part of Iraq and because of that it has to sell its stake in the West Tuba as required by the regulation set by the government of Iraq," Mr. Rajasa told reporters.

Pertamina has been seeking to buy oil blocks outside Indonesia to help secure its energy supply, but its attempts haven't been very successful.

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Court Reverses More Than $1 Billion In Damages Against Exxon Mobil

WASHINGTON - Exxon Mobil Corp. has won a legal victory in its effort to fight damages of about $1.5 billion stemming from a 2006 gasoline spill in Maryland.

In a decision released Tuesday, the Maryland Court of Appeals reversed more than $1 billion in punitive damages, awarded by a jury in 2011, and said residents and business who accused the energy giant of fraud hadn't sufficiently proven their case.

The court also reversed a large number of compensatory damages, which originally totaled about $500 million.

The case stems back to February 2006 when 26,000 gallons of gasoline leaked from underground storage tanks owned by Exxon Mobil at a fueling station in Jacksonville, Md. The gasoline moved into a water aquifer that supplied drinking water to many residents.

Dozens of residents and business owners filed suit and accused Exxon Mobil of fraud. They also said they suffered because of concerns over contracting cancer and losing value on their properties.

In 2011, a jury at the Circuit Court for Baltimore County awarded the residents and business owners about $500 million in compensatory damages and $1 billion in punitive damages.

Exxon said the company is reviewing the court's decision.

"The evidence showed that we acted appropriately after the accident and the court has agreed," the company said, adding that it has apologized to the Jacksonville community and remains "ready to compensate those who were truly damaged by this unfortunate incident."

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Court Reverses More Than $1 Billion In Damages Against Exxon Mobil

WASHINGTON - Exxon Mobil Corp. has won a legal victory in its effort to fight damages of about $1.5 billion stemming from a 2006 gasoline spill in Maryland.

In a decision released Tuesday, the Maryland Court of Appeals reversed more than $1 billion in punitive damages, awarded by a jury in 2011, and said residents and business who accused the energy giant of fraud hadn't sufficiently proven their case.

The court also reversed a large number of compensatory damages, which originally totaled about $500 million.

The case stems back to February 2006 when 26,000 gallons of gasoline leaked from underground storage tanks owned by Exxon Mobil at a fueling station in Jacksonville, Md. The gasoline moved into a water aquifer that supplied drinking water to many residents.

Dozens of residents and business owners filed suit and accused Exxon Mobil of fraud. They also said they suffered because of concerns over contracting cancer and losing value on their properties.

In 2011, a jury at the Circuit Court for Baltimore County awarded the residents and business owners about $500 million in compensatory damages and $1 billion in punitive damages.

Exxon said the company is reviewing the court's decision.

"The evidence showed that we acted appropriately after the accident and the court has agreed," the company said, adding that it has apologized to the Jacksonville community and remains "ready to compensate those who were truly damaged by this unfortunate incident."

Copyright (c) 2012 Dow Jones & Company, Inc.

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Rosneft, Exxon Mobil Broaden Arctic Shelf Joint Venture

NOVO-OGARYOVO, Russia - U.S. energy giant Exxon Mobil Corp. and Russia's OAO Rosneft agreed Wednesday to broaden their joint venture by adding seven more licenses to develop oil and gas resources on Russia's Arctic shelf and mull a proposal to export liquefied natural gas from the Russian Far East.

The companies also signed a separate deal to give state-controlled Rosneft the option of buying a 25% interest in Exxon's Point Thomson Unit, which Exxon says is estimated to hold a quarter of the known natural gas resources buried beneath Alaska's North Slope. Exxon owns 62.5% of Point Thomson.

The deal, signed by Rosneft Chief Executive Igor Sechin and Exxon's Deputy Chief Executive Stephen Greenlee, further strengthens the budding relationship between two of the world's largest oil companies while competition to unlock the Arctic's vast trove of oil and gas wealth heats up.

The Arctic is one of the few remaining places that can move the needle for oil giants in terms of production and reserves, but the technical challenges are formidable. Earlier this week Royal Dutch Shell Plc said it was sending two Arctic ships operating in Alaska to Asia for repairs following a series of mishaps, a move that is likely to make the Anglo-Dutch oil giant miss the short summer drilling season that starts in July.

Exxon and Rosneft formed an alliance in 2011 to develop potentially huge but largely untapped reserves on Russia's Arctic shelf and shale oil in Western Siberia. The original deal also gave Rosneft the option of participating in U.S. shale developments. Fadel Gheit, an analyst with Oppenheimer & Co., says that Exxon's strategy to allow Russian participation shows that the most successful way to negotiate with Russian oil companies is to deal with them as equal partners. "They want to make it a two-way street," Mr. Gheit said.

Rosneft also has partnership deals with Italy's ENI SpA and Norway's Statoil ASA to develop offshore resources.

Rosneft is currently buying competitor TNK-BP in a deal worth $55 billion that will create the largest listed oil producer in the world and will hand BP PLC a 19.8% stake in the oil giant.

Exxon and Rosneft will conduct a feasibility study on constructing a liquefied natural gas plant on the island of Sakhalin off Russia's Pacific coast. Rosneft is lobbying to be allowed to export LNG, which only OAO Gazprom currently is permitted to do by law.

Angel Gonzalez contributed to this article.

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Nigeria Exxon spill spreads for miles along coast

By Tife Owolabi. Reuters

IBENO, Nigeria | Sun Nov 18, 2012 2:51am EST

(Reuters) – An oil spill at an ExxonMobil facility offshore from the Niger Delta has spread at least 20 miles from its source, coating waters used by fishermen in a film of sludge.

A Reuters reporter visiting several parts of Akwa Ibom state saw a rainbow-tinted oil slick stretching for 20 miles from a pipeline that Exxon had shut down because of a leak a week ago. Locals scooped it into jerry cans.

Mark Ward, the managing director of ExxonMobil’s local unit, said a clean up had been mobilized, and he apologized to affected communities for the spill.

Exxon said last Sunday it had shut a pipeline off the coast of Akwa Ibom state after an oil leak whose cause was unknown. Read the full article

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