ExxonMobil On Track for Point Thomson Production in 2014

ExxonMobil resumed development drilling Nov. 23 at the large Point Thomson gas and condensate field, located 60 miles east of Prudhoe Bay, and is on track to have the project in production in 2014.

Lee Bruce, project manager of the Point Thomson project, said $300 million has been spent on the project to date, which is expected to total $1.3 billion when completed.

BP, Chevron and ConocoPhillips are partners with ExxonMobil in the project.

Bruce said the first two Point Thomson wells were started and drilled to 5,000 feet this summer. State regulations prohibit drilling deeper into potential hydrocarbon zones, until the winter months.

Both wells will be finished by the end of 2010, Bruce said. Three more wells are planned.

The project, aimed at producing 10,000 barrels a day of condensates by 2014, is the first phase of Point Thomson development, Bruce told the Resource Development Council.

The project poses technical challenges it will operate at the highest reservoir pressure of any gas cycling project in the world and based on its performance condensate production could be expanded or the facilities could be converted for use in conventional gas production if a gas pipeline is built, Bruce said.

ExxonMobil plans to begin construction of facilities in 2011, he said.

Copyright (c) 2009, Alaska Journal of Commerce, Anchorage. Distributed by McClatchy-Tribune Information Services.