Exxon Affiliate Begins Oil Production From New Platform Offshore Malaysia

Mar 05, 1998, 00:00 ET from Exxon Corporation

    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
     Exxon news releases and other information about Exxon can be found on the
 Internet at http://www.exxon.com.

SOURCE Exxon Corporation