CALGARY, Alberta Jan 4 Exxon Mobil Corp
said on Friday it is moving forward with the next major offshore
oil project in the North Atlantic, the $14 billion Hebron
development off the Newfoundland coast.
Exxon Mobil said the oil from Hebron will be produced with
an iceberg-resistant gravity-based platform designed to pump
150,000 barrels a day. First oil is expected by 2017.
The project, in the Jeanne d'Arc Basin, 350 km (200 miles)
southeast of St John's, Newfoundland, follows the other
developments in the region -- Hibernia, Terra Nova and White
The other partners are Chevron Corp, Suncor Energy
Inc, Statoil ASA and Nalcor Energy Oil And Gas.