ExxonMobil Announces Third Major Nigeria Startup for Year

ExxonMobil announced today that its affiliate, Mobil
Producing Nigeria Unlimited (MPN), has started up the East Area
Additional Oil Recovery project located approximately 17 miles (28
kilometers) offshore Nigeria. MPN (40 percent interest) is operator of
the project with co-venture partner Nigerian National Petroleum
Corporation (60 percent).
The project involves the reinjection of natural gas to mitigate
normal field decline from East Area reservoirs and significantly
increase ultimate oil recovery from Blocks OML 67 and OML 70. It is
expected that the project will produce 530 million gross barrels of
additional oil reserves from the blocks, and will provide a peak
volume of 120,000 barrels a day of oil. The development also will
further reduce routine flaring at the facilities to help meet the
Nigerian government's and ExxonMobil's goals.
Major components of the Additional Oil Recovery (AOR) project
include a gas compression complex plus seven associated platforms,
including crew living quarters, and more than 100 miles (161
kilometers) of new pipeline for natural gas gathering and
distribution. Total cost of the project is expected to be
approximately $1.3 billion.
The AOR project is the third major facility startup for ExxonMobil
affiliates in Nigeria this year. In February, MPN started production
from the full-field facilities of the $1.3 billion Yoho project, with
estimated recoverable resources of 440 million oil barrels. Yoho is
currently producing about 160,000 barrels of oil a day, and injecting
about 110 million cubic feet of natural gas daily. The facilities
consist of a central production processing platform, 33 wells, living
quarters platform, and a Floating, Storage and Offloading (FSO)
vessel. The development is a joint venture between MPN (40 percent)
and the Nigerian National Petroleum Corporation, with 60 percent
equity holding.
In March, the deepwater Erha field started production. Together
with the Erha North satellite due on-stream in the third quarter of
this year, the $3.5 billion Erha and Erha North developments will
consist of 32 subsea wells tied to a Floating Production Storage and
Offloading (FPSO) vessel. The combined Erha production is ramping up
as expected for a total production output of 190,000 barrels a day.
Associated natural gas production is expected to be about 300 million
cubic feet a day, which will be reinjected for reservoir management.
Esso Exploration and Production Nigeria Limited (EEPNL), an
ExxonMobil affiliate, is the operator of the Erha and Erha North
developments. EEPNL has a 56.25 percent participating interest in the
OML 133 production sharing contract area where Erha and Erha North are
located, with Shell Nigeria Exploration and Production Company holding
the remaining 43.75 percent.
Stuart McGill, senior vice president of Exxon Mobil Corporation
(NYSE:XOM), said, "Liquids production that ExxonMobil affiliates
either operate or participate in offshore Nigeria currently exceeds
1.1 million barrels per day. The Yoho, Erha and AOR developments are
important new supplies in helping our company meet growing global oil
demand. All three projects started up on schedule and within
facilities budgets, reflecting ExxonMobil's global project execution
and management capabilities. These projects represent state-of-the-art
technology application and underscore our continued commitment to
supporting Nigeria in meeting its goals to promote national business
development and capacity growth."
The Yoho, Erha and AOR developments included contract awards to
several Nigerian companies for in-country fabrication services,
logistics support as well as training, development and employment of
Nigerians. Activities involved fabrication of a mooring buoy, subsea
manifolds, drilling unit pilings, and modules for the Erha FPSO such
as the flare tower, pipe racks and riser protection frames. The AOR
project included more than 6,000 tons of steel fabricated in Nigeria
as well as in-country application of coatings for all pipelines.

CAUTIONARY STATEMENT: Estimates, expectations, and business plans
in this release are forward-looking statements. Actual future results,
including resource recoveries, production rates, and project plans and
schedules, could differ materially due to changes in market conditions
affecting the oil and gas industry or long-term oil and gas price
levels; political or regulatory developments; reservoir performance;
timely completion of development projects; technical or operating
factors; and other factors discussed under the heading "Factors
Affecting Future Results" in the Investor Information section of our
website (www.exxonmobil.com) and in Item 1A of our most recent Form
10-K. References to "resources," "barrels of oil," and similar terms
include quantities of oil and gas that are not yet classified as
proved reserves but that we believe will be produced in the future.