ExxonMobil reaches total depth at first Point Thomson production well

ExxonMobil (XOM) has reached target depth at its first Point Thomson well on Alaska’s North Slope.

Development well PTU-15 has been successfully drilled and cased, reaching a measured depth of more than 16,000 feet. The Nabors land rig 27-E drilled directionally from shore to a targeted gas reservoir under the Beaufort Sea 1.5 miles offshore.

Now the drilling rig will be moved to PTU-16, the second development well at the Point Thomson natural gas and condensate field, to continue drilling.

Additionally, a 60 –mile ice road has been constructed from Endicott to Point Thomson, allowing the transport of heavy equipment and materials to the Point Thomson project.

Front-end engineering and design (FEED) is ongoing for the Point Thomson production system.

“We are continuing to progress the Point Thomson project work,” said Dale Pittman, ExxonMobil Alaska production manager. “We are ready to resolve all outstanding issues with the Department of Natural Resources to maintain the pace and momentum set by the more than 1,500 people and 150 companies that worked on the project over the past year.”

Point Thomson Natural Gas and Condensate Field

Point Thomson is a natural gas and condensate field located on Alaska’s North Slope. The field is estimated to hold 8 trillion cubic feet of natural gas and 200 million barrels of condensate.

Situated beneath the waters of the Beaufort Sea, the field is being developed through directional drilling and subsea tie-backs to production equipment onshore.

Before being transported to the drilling pad site in April 2009, the Nabors land rig 27-E received $35 million in upgrades in order to be able to drill at Point Thomson.

Scheduled to come on-stream in 2014, the Point Thomson project will produce some 10,000 barrels of condensate a day and 200 million cubic feet per day of natural gas. Remaining natural gas will be re-injected into the reservoir to maintain pressure and enhance recovery.

Designed as a multi-phase project, field development at Point Thomson includes the construction of a gas processing plant that will produce hydrocarbon liquids and re-inject natural gas into the reservoir, as well as a pipeline tie-in to the Alaska Pipeline Project.

Requiring an estimated investment of $1.3 billion, partners on the Point Thomson project also include BP (BP) and ConocoPhillips (COP).



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