Exxon launches www.essochad.com

Esso Exploration and Production Chad Inc., is making available on the Internet environmental and other information on its proposed oil development project in southern Chad. The project also involves construction of a pipeline from the oil field in southern Chad to the port of Kribi in neighbouring Cameroon.
The project's website is www.essochad.com.
The Chad/Cameroon Development Project is sponsored by a consortium consisting of subsidiaries of Exxon, Shell and Elf. Esso Chad, with a 40 % interest in the project, has been selected by the consortium to act as the operator. Shell and Elf have 40 % and 20 % interests respectively. If the project is approved, the consortium will finance 97 % of the estimated $ 3 billion investment directly or through loans at market rates. The consortium will develop and produce approximately 1 billion barrels of reserves over the life of the project.
The governments of Chad and Cameroon plan to apply to the World Bank for loans totalling $ 115 million (3 % of the project cost) to finance their equity investments in the companies which will own and operate the pipeline. To facilitate the loan application process, Chad has forwarded to the World Bank its "Environmental Assessment" (EA). The EA is designed to assess the environmental, social and economic effects of the proposed project. Additional information on the EA is available on the new website.
Initially the website will include:
- Information on the economies of Chad and Cameroon
- A description of the project, including the planning and public consultation process
- A summary of the Chad Environmental Assessment and related issues
- News releases regarding the project
Additional data, including a summary of the Cameroon Environmental Assessment and the Environmental Management Plans, will be added to the website in the coming weeks.