ExxonMobil Invests in Malaysia Gas Compression Platform

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Apr 11, 2004

Exxon Mobil Corporation (NYSE:XOM) announced today that its subsidiary, ExxonMobil Exploration and Production Malaysia Inc. (EMEPMI), is continuing its long-term investment in Malaysia by moving forward with the construction of the Guntong E gas compression platform. EMEPMI is operator of the Gas Production Sharing Contract (GPSC) with joint-venture partner PETRONAS Carigali Sdn Bhd PETRONAS. Both hold a 50 percent interest in the GPSC.

"As the largest supplier of natural gas to Peninsular Malaysia, ExxonMobil's investment in this project and partnership with PETRONAS exemplifies our commitment to this region," said Stuart McGill, president of ExxonMobil Production Company. "Our company's long-term focus is to help meet the world's energy needs, and one of the ways we do this is by increasing natural gas production in our geographically diverse portfolio."

The Guntong E platform will be located about 130 miles off the east coast of Peninsular Malaysia. The facility will consist of an eight-leg jacket and modules for gas receiving, separation, dehydration and compression. Three large turbine-driven compressor trains will handle 540 million cubic feet of gas and 30,000 barrels of condensate per day. Production will flow to shore using existing pipelines.

Guntong E is scheduled to be fabricated in Malaysia and installed offshore by third quarter 2005. Upon startup in 2006, Guntong E will form the hub for offshore gas production from several fields. The Guntong Hub is expected to process four trillion cubic feet of gas for sale in Peninsular Malaysia.
The Guntong E development is the first phase of the Guntong Hub development, which will involve new drill wells, workover of existing wells, satellite platforms, inter-field pipelines and retrofit of existing platforms.
EMEPMI, a subsidiary of Exxon Mobil Corporation, is the largest oil producer in Malaysia and the largest supplier of gas to Peninsular Malaysia. In 2003, EMEPMI produced approximately 270,000 barrels of liquids and 1.5 billion cubic feet of gas per day.

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