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UPDATE 1-Exxon offshore Libya well not a success-exec
September 16, 2010 / 7:24 PM / 7 years ago

UPDATE 1-Exxon offshore Libya well not a success-exec

HOUSTON, Sept 16 (Reuters) - A deepwater exploration well that Exxon Mobil Corp (XOM.N) drilled offshore Libya was not commercially viable, an executive said on Thursday.

The well “ultimately proved to be unsuccessful,” Andrew Swiger, a senior vice president at the Irving, Texas, company told the Barclays Capital CEO Energy-Power Conference.

The project was first announced in 2009 was a collaboration between Exxon and Libya’s National Oil Company.

Shares of Exxon, the world’s largest publicly traded oil company, fell 12 cents to $60.88 in afternoon trade on the New York Stock Exchange. (Reporting by Anna Driver in Houston)

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