Enterprise to Provide Marine Transportation Services for ExxonMobil Subsidiary under Multi-Year Deal

Tue Jan 15, 2013 7:30am EST

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HOUSTON--(Business Wire)--
Enterprise Products Partners L.P. (NYSE: EPD) today announced that its wholly
owned affiliate, Enterprise Marine Services LLC, has entered into a multi-year
contract with SeaRiver, Inc. to provide the ExxonMobil subsidiary with
transportation services. Under the terms of the agreement, which took effect
January 1, 2013, Enterprise is committing five tugs and 10 barges for the
transportation of refined products and other hydrocarbon products along the
nation`s inland waterway system. 

"We are very pleased to execute this long-term agreement with SeaRiver, one of
the largest consumers of marine transportation services in the energy industry,"
said Gerald R. "Jerry" Cardillo, president of Enterprise Marine Services LLC.
"We believe our selection as one of SeaRiver`s preferred vendors reflects our
quality fleet, operational reliability and experienced personnel. We believe the
agreement is also an acknowledgement of Enterprise Marine`s `best in the
industry` financial strength based on our affiliation with Enterprise Products
Partners, one of the largest publicly traded partnerships, with an enterprise
value of $62 billion and investment-grade debt ratings." 

Enterprise Marine Services owns and operates approximately 200 vessels that
transport petroleum and petrochemical products throughout the nation`s network
of inland waterways, as well as the Gulf of Mexico. Its fleet of double-hulled
barges is among the youngest in the industry and meets or exceeds federal
requirements for safety. Reflecting Enteprise`s commitment to growing its Marine
Services business, Enterprise`s 64th tug, the Dan L, named after founder Dan
Duncan, was placed into service in 2012. Four more tugs and six barges are under
construction and expected to be completed in 2013. 

Enterprise Products Partners L.P. is one of the largest publicly traded
partnerships and a leading North American provider of midstream energy services
to producers and consumers of natural gas, NGLs, crude oil, refined products and
petrochemicals. The partnership`s assets include approximately 50,700 miles of
onshore and offshore pipelines; 190 million barrels of storage capacity for
NGLs, petrochemicals, refined products and crude oil; and 14 billion cubic feet
of natural gas storage capacity. Services include: natural gas gathering,
treating, processing, transportation and storage; NGL transportation,
fractionation, storage, and import and export terminals; crude oil and refined
products transportation, storage and terminals; offshore production platforms;
petrochemical transportation and services; and a marine transportation business
that operates primarily on the United States inland and Intracoastal Waterway
systems and in the Gulf of Mexico. Additional information about Enterprise is
available online at www.enterpriseproducts.com. 

This press release includes "forward-looking statements" as defined by the
Securities and Exchange Commission. All statements, other than statements of
historical fact, included herein that address activities, events, developments
or transactions that Enterprise expects, believes or anticipates will or may
occur in the future, including anticipated benefits and other aspects of such
activities, events, developments or transactions, are forward-looking
statements.These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially, including
required approvals by regulatory agencies, the possibility that the anticipated
benefits from such activities, events, developments or transactions cannot be
fully realized, the possibility that costs or difficulties related thereto will
be greater than expected, the impact of competition and other risk factors
included in the reports filed with the Securities and Exchange Commission by
Enterprise.Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of their dates.Except as
required by law, Enterprise does not intend to update or revise its
forward-looking statements, whether as a result of new information, future
events or otherwise.

Enterprise Products Partners L.P.
Randy Burkhalter, 713-381-6812 or 866-230-0745
Investor Relations
or
Rick Rainey, 713-381-3635
Media Relations

Copyright Business Wire 2013

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