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<p><b>New page</b></p><div>Partners in the Chad-Cameroon oil development <br />
project Monday reported first oil operations and the startup of <br />
pipeline fill activities. <br />
Once central treating facilities and drilling operations <br />
are completed, the $3.5 billion project is expected to reach oil <br />
production of 225,000 b/d, project partner ChevronTexaco Corp. <br />
said. <br />
The pipeline, which was completed a year ahead of schedule, <br />
will transport oil more than 660 miles from Bolobo, Miandoum, and <br />
Kome oil fields, near Doba in Chad, through eastern Cameroon, and <br />
on to an export terminal facility at Kribi, Cameroon, in the Gulf <br />
of Guinea. From there, oil will be shipped to a floating storage <br />
and offloading vessel 7 miles offshore for export. <br />
Partners in the project are ExxonMobil Corp. unit Esso <br />
Exploration & Production Chad Inc., operator with 40%, <br />
ChevronTexaco 25%, and Malaysian oil company Petronas 35%. <br />
Construction on the project began in October 2000, pipeline <br />
installation began in 2001 in parallel with construction of oil <br />
field processing facilities, and first drilling of the planned <br />
300 wells started in late 2001 (OGJ Online, Oct. 19, 2000). <br />
ExxonMobil said that the project is expected to produce for <br />
Chad an economic development value of $2.5-8.5 billion over its <br />
life, depending on oil price volatility. <br />
<br />
[http://umscoltd.com Cameroon oil]</div>MelsonBateman319