IRVING, Texas, March 5 /PRNewswire/ -- Esso Production Malaysia Inc. (EPMI), an affiliate of Exxon Corporation (NYSE: XON), announced today that it has begun producing oil from the Seligi F platform located 165 miles (275 kilometers) off the coast of Terengganu, Peninsular Malaysia. Production from Seligi F is expected to achieve a peak annual average rate of 21,000 barrels a day later this year. EPMI, as operator, is developing the Seligi field on behalf of the joint venture between EPMI and its partner, PETRONAS Carigali Sdn Bhd (PCSB), with a 78 and 22 percentage equity share, respectively. Total investment for the development of Seligi F is $155 million. Seligi field is one of Malaysia's biggest oil fields and is situated in the 1995 Production Sharing Contract (PSC) area. Seligi is the seventh platform to be installed in this field, which started production in 1988. The Seligi F platform was designed as an unmanned satellite platform and was installed offshore in October last year. Development drilling then started in December. Oil from the 28-well Seligi F platform will flow via a new 16-inch pipeline to the existing Seligi infrastructure. EPMI is the largest oil producer in Malaysia, with daily production of more than 300,000 barrels. It is also the largest supplier of natural gas to Peninsular Malaysia with production in excess of 900 million standard cubic feet of gas per day. EPMI has PSCs with PETRONAS in five areas offshore Terengganu, Peninsular Malaysia and currently operates 29 platforms in 10 fields. Exxon news releases and other information about Exxon can be found on the Internet at http://www.exxon.com.
SOURCE Exxon Corporation