Seaway Pipeline Announces Connection to Exxon's Hoover/Diana Pipeline

abarrelfullabarrelfull wrote on 15 Jul 2012 14:54
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23 June 1999
HOUSTON — Seaway Pipeline Company has announced it has signed new Connection Agreements with Exxon Pipeline Company. These agreements will permit the delivery of Hoover/Diana crude oil, originating in the western Gulf of Mexico, to two Seaway Pipeline crude oil transportation systems.
Seaway Pipeline will construct the facilities to accept deliveries from Exxon Pipeline into both the Freeport to Cushing 30" pipeline that serves Mid-continent refiners, and the Texas City to Houston 36" pipeline system that serves the refiners along the Houston Ship channel, including Texas City.

The Hoover/ Diana crude oil will originate approximately 150 miles offshore of Freeport, Texas and will be transported to shore by the new HOOPS (Hoover Offshore Oil Pipeline System) Pipeline, currently under construction by Exxon Pipeline. Start up of operations is expected in the second quarter of 2000.

"We are pleased to provide this transportation solution to Exxon," said Larry Shakley, President of ARCO Pipe Line Company, operator of Seaway. "This agreement will allow both the Houston and Mid Continent Refiners to have access to another growing source of crude oil, as well as provide Exxon Company, USA with increased markets for their oil. "

Seaway is a partnership between ARCO (NYSE:ARC) and subsidiaries of Phillips Petroleum Company ( NYSE: P), and carries crude oil 550 miles from Freeport, Texas, to Cushing, Oklahoma, the delivery point for the New York Mercantile Exchange's (NYMEX) oil futures contract.


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