Exxon begins Nigerian oil recovery project

Jul 25, 2006 02:00 AM

ExxonMobil said it had begun a $ 1.3 bn oil recovery project in offshore Nigeria, its third major start-up in the volatile country this year.
Exxon has pushed ahead with its slate of Nigerian projects despite a wave of attacks and kidnappings by militants this year that have disrupted supplies from the world's eighth-largest oil exporter.

The East Area project operated by Exxon reinjects natural gas to stem normal field decline from reservoirs and increase oil recovery from two oil producing blocks. It is expected to add 530 mm gross barrels in additional oil reserves from the blocks, and provide volume of 120,000 bpd of oil at its peak.
The project, in which the Nigerian National Petroleum Corporation has a 60 % stake, will also reduce routine flaring at the facilities.

Source: Dow Jones Newswires
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