ExxonMobil Corporation (XOM) is all set to start production from its Point Thomson field in 2014. It has resumed drilling on two wells in this field, PTU-15 and PTU-16, earlier this year. The company drilled these two wells to approximately 5,000 feet during the summer.
 
Located on Alaska’s North Slope, Point Thomson is a natural gas and condensate field. It holds approximately 8 trillion cubic feet of gas – about 25% of the North Slope’s gas resource – and about 200 million barrels of condensate.
 
The company may face technical challenges in developing the field, including the drilling and production of a high pressure gas reservoir. This drilling program follows a successful summer work program that safely delivered fuels, equipment and supplies to the Point Thomson drilling site.
 
Exxon continues to bring the latest technology to develop this field. The field will process 200 million cubic feet of natural gas per day in order to produce approximately 10,000 barrels per day of liquid condensate into the Trans Alaska Pipeline System. After processing, the natural gas will be recycled into the reservoir, making Thomson the highest-pressure gas cycling operation in the world.
 
Exxon’s industry leading project management capability along with innovative technology helps the company to deliver significant value to its partners, resource owners and shareholders. Recent milestone upstream successes include the start-up of plants at Ras Laffan 3 and Qatargas 2 liquefied natural gas projects, a joint venture between ExxonMobil and Qatar Petroleum.
 
Given Exxon’s attractive pipeline of development projects, we remain optimistic that volumes from these and similar other projects over the next few years will help to keep production growth steady.
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