Exxon Mobil Receives Approval to Develop Sigyn Field

Exxon Mobil received approval from the Norwegian authorities for their plan of development and operation for the Sigyn field located in the North Sea. The plan calls for the installation of a subsea template tied back the Sleipner East Field. The Sigyn field will make a positive contribution to the Sleipner East facilities. Both the A platform and the Karsto complex north of Stavanger have additional space for liquids. The development work is scheduled to begin during the third quarter of 2002. Exxon Mobil holds a 40 percent interest in the field, Statoil holds a 50 percent interest and Norsk Hydro holds the remaining 10 percent.