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Number 4 - ExxonMobil in the UK

Number 4 - ExxonMobil in the UK

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Deepwater exploration<br />

planned <strong>in</strong> Black Sea<br />

<strong>ExxonMobil</strong> affiliates have signed exploration<br />

agreements cover<strong>in</strong>g three large deepwater<br />

blocks <strong>in</strong> <strong>the</strong> Black Sea offshore<br />

Turkey and Romania.<br />

<strong>ExxonMobil</strong> Exploration and Production<br />

Turkey B.V. and <strong>the</strong> Turkish national oil<br />

company, Türkiye Petrolleri Anonim Ortaklı ˘gı<br />

(TPAO), will explore two blocks. The agreement<br />

marks <strong>ExxonMobil</strong>’s entry <strong>in</strong>to Black<br />

Sea exploration.<br />

<strong>ExxonMobil</strong> will become operator dur<strong>in</strong>g<br />

<strong>the</strong> <strong>in</strong>itial exploration phase and earn a<br />

50-percent <strong>in</strong>terest <strong>in</strong> <strong>the</strong> Samsun block,<br />

which conta<strong>in</strong>s about 2 million acres, and<br />

<strong>the</strong> eastern portion of <strong>the</strong> 3921 block,<br />

which conta<strong>in</strong>s some 5 million acres. Water<br />

depths reach approximately 6,500 feet.<br />

TPAO and <strong>ExxonMobil</strong> <strong>in</strong>tend to collaborate<br />

to merge skills and operational abilities<br />

dur<strong>in</strong>g <strong>the</strong> development and production<br />

phases. TPAO is scheduled to complete<br />

seismic acquisition and evaluation programs<br />

on <strong>the</strong> two blocks <strong>in</strong> 2009. Assignment of<br />

<strong>the</strong> <strong>in</strong>terest to <strong>ExxonMobil</strong> by TPAO is subject<br />

to Turkish government approval.<br />

<strong>ExxonMobil</strong> affiliates or predecessor<br />

companies have been operat<strong>in</strong>g <strong>in</strong> Turkey<br />

for more than 100 years. <strong>ExxonMobil</strong>’s<br />

presence <strong>in</strong> Turkey <strong>in</strong>cludes a lubes blend<strong>in</strong>g<br />

plant <strong>in</strong> Istanbul as well as f<strong>in</strong>ished lubricants,<br />

aviation fuels and mar<strong>in</strong>e fuel sales.<br />

TPAO, Turkey’s sole national oil company,<br />

Black Sea exploration blocks<br />

Romania<br />

Bulgaria<br />

Moldova<br />

• Istanbul<br />

was founded <strong>in</strong> 1954. In addition to its<br />

onshore and shallow-water operat<strong>in</strong>g experience<br />

<strong>in</strong> Turkey, TPAO has <strong>in</strong>terests <strong>in</strong> various<br />

projects <strong>in</strong> Azerbaijan, Kazakhstan and<br />

Libya. S<strong>in</strong>ce 2004, TPAO has significantly<br />

<strong>in</strong>creased domestic <strong>in</strong>vestments with a new<br />

strategy to extend exploration <strong>in</strong>to unexplored<br />

bas<strong>in</strong>s of Turkey, especially offshore.<br />

Offshore Romania, <strong>ExxonMobil</strong><br />

Exploration and Production Romania<br />

Limited and Petrom SA, <strong>the</strong> largest<br />

Romanian oil and gas company, have<br />

agreed to cooperate on a 3-D seismic<br />

acquisition and evaluation program <strong>in</strong> <strong>the</strong><br />

deepwater portions of <strong>the</strong> Neptun block.<br />

Petrom will operate <strong>the</strong> <strong>in</strong>itial work<br />

program planned to beg<strong>in</strong> <strong>in</strong> 2009.<br />

<strong>ExxonMobil</strong> will fund <strong>the</strong> work program<br />

Panorama<br />

Around <strong>the</strong> world with <strong>ExxonMobil</strong><br />

Neptun block<br />

3921<br />

sub-block<br />

Ukra<strong>in</strong>e<br />

BLACK SEA<br />

Turkey<br />

•<br />

Ankara<br />

Samsun block<br />

and provide expertise <strong>in</strong> evaluat<strong>in</strong>g <strong>the</strong><br />

deepwater seismic data. The Neptun block<br />

covers nearly 2.5 million acres, with water<br />

depths reach<strong>in</strong>g more than 5,500 feet.<br />

Petrom, a member of <strong>the</strong> OMV group<br />

of Central Europe, is active <strong>in</strong> oil and gas<br />

exploration, production, ref<strong>in</strong><strong>in</strong>g and market<strong>in</strong>g<br />

as well as <strong>in</strong> gas and power. It has<br />

estimated proved oil and gas reserves of<br />

nearly 1 billion oil-equivalent barrels. It also<br />

manages retail networks of 550 service<br />

stations <strong>in</strong> Romania and 227 service stations<br />

<strong>in</strong> Moldova, Bulgaria and Serbia.<br />

<strong>ExxonMobil</strong>’s history <strong>in</strong> Romania<br />

also dates back more than 100 years.<br />

Operations have <strong>in</strong>cluded oil production,<br />

ref<strong>in</strong><strong>in</strong>g and lubricants market<strong>in</strong>g.<br />

Russia<br />

26<br />

Georgia

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