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    Conoco to develop Magnolia field

    News // January 4, 2002
    Conoco is to develop the Magnolia Field in the Gulf of Mexico in partnership with Ocean Energy. The field is located in 4,700ft of water, and initial estimates suggest that the project - which is located in Garden Banks blocks 783 and 784 - could deliver150 million barrels of oil equivalent (MMBOE).

    Conoco holds a 75 per cent working interest in the field; Ocean Energy owns 25 per cent.

    A platform supporting a completion rig - either a TLP or a spar - will be installed in the field in mid-2004.

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