IRVING, Texas, April 3 /PRNewswire/ -- Exxon Mobil Corporation
(NYSE: XOM), on behalf of its affiliate, Esso Exploration and Production Chad
Inc. (Esso Chad), today announced changes to the consortium of co-venturers
responsible for development of the Doba oil fields in the Republic of Chad and
the export pipeline through Chad and Cameroon.
Petronas, the national oil company of Malaysia, and Chevron Corporation of
San Francisco, California, have joined the Consortium along with the operator,
Esso Chad.
In the new Consortium, Esso Chad will maintain its 40 percent interest,
while Petronas will have 35 percent and Chevron will have 25 percent.
The Project will develop landlocked oil fields in southern Chad and
transport the crude oil 650 miles by pipeline to the coast of Cameroon for
export to world markets. The Project will cost approximately $3.5 billion and
will produce roughly one billion barrels of oil over its 25-30 year life.
SOURCE Exxon Mobil Corporation
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