ExxonMobil Starts Production From Telok Gas Field

Mon Mar 11, 2013 9:00am EDT

* Reuters is not responsible for the content in this press release.


Project delivered on schedule and within budget
IRVING, Texas--(Business Wire)--
ExxonMobil has started production from the Telok natural gas field, located
offshore Malaysia in the South China Sea. 

"The Telok development will help meet increasing demand for natural gas in
Peninsular Malaysia," said Neil W. Duffin, president of ExxonMobil Development
Company. "It is one of many natural gas developments ExxonMobil will bring on
stream in the next few years around the world." 

The development concept of "design one, build many" was utilized to efficiently
develop the project and shorten construction and installation timelines,
allowing Telok to be completed on schedule and within budget. 

The Telok A platform is the first phase of the Telok natural gas project, which
when completed will consist of two four-legged unmanned gas satellite platforms.
Full well stream gas will be produced via a new 16-mile pipeline to the existing
Guntong E platform for processing. A total of 14 development wells are planned
for the Telok A and B platforms. 

The Telok gas field is located about 124 miles offshore the east coast of
Peninsular Malaysia. The field was developed under a gas production sharing
contract, and is a 50-50 joint venture between ExxonMobil, the operator, and
PETRONAS Carigali Sdn Bhd. 

CAUTIONARY STATEMENT: Estimates, expectations, and business plans in this
release are forward-looking statements. Actual future results, including
production rates, ultimate recoveries, 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 "recoverable resources" 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. The term "project" as used in this release does
not necessarily have the same meaning as under SEC Rule 13q-1 relating to
government payment reporting. A single project for purposes of that rule may
encompass numerous properties, agreements, investments, developments, phases,
work efforts, activities, and components, each of which we may also describe
informally as a "project". 

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