Number 4 - ExxonMobil in the UK
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