StatoilHydro, ExxonMobil JV: Significant GOM Discovery with Julia

3 D Seismic Survey Area
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ExxonMobil and StatoilHydro have hit it big with the Julia well in deepwater Gulf of Mexico. The joint venture discovered hydrocarbons about 265 miles southwest of New Orleans, La.

"This is a promising oil discovery," said Helen Butcher, StatoilHydro's exploration manager for deepwater Gulf of Mexico. "StatoilHydro is a major lease holder in Walker Ridge. This discovery supports our firm belief in this area."

Drilling to a total depth of 9,500 meters, the Julia well is located in 2,000 meters of water. More appraisal drilling is planned for 2008 to further define the extent of the Julia discovery.

This is the first well drilled for the joint venture, which was formed in 2005 to explore deepwater Gulf of Mexico.

As the third-largest lease holder in the Gulf of Mexico, StatoilHydro is currently developing two substantial discoveries in the same area the Julia discovery, Jack and St. Malo, which are scheduled to commence production by 2014. Additionally, the company recently discovered hydrocarbons at West Tonga in Green Canyon.


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