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    ExxonMobil begins construction of Zafiro Southern Expansion

    Projects and Operations // June 24, 2002
    Exxon Mobil Corporation has announced that its subsidiary, Mobil Equatorial Guinea Inc (MEGI), has awarded contracts and started construction to expand current production of the Zafiro field, offshore Equatorial Guinea. First production from the new $700million project is scheduled for September 2003.

    The Zafiro field, located on Block B, is approximately 40 miles (65km) northwest of Malabo in water depths of 1,400-2,800ft (425-850m).

    The new development, known as the Zafiro Southern Expansion Area, will utilize an early production system and recover about 150 million barrels of oil.

    The development consists of subsea wells tied back to a Floating, Production, Storage and Offloading (FPSO) vessel. The FPSO is capable of processing 110,000 barrels of oil per day and will be able to store two million barrels of oil.

    A total of 19 subsea wells are planned, and drilling is expected to continue until 2004.

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