Exxon starts production at Malaysian gas field
SAN FRANCISCO (MarketWatch) — Exxon Mobil Corp. said Monday production at its Telok natural-gas field offshore Malaysia has started. The development was completed on scheduled and on budget, Exxon said in a press release. Telok, about 124 miles offshore the east coast of peninsular Malaysia, is a 50/50 joint venture with Malaysia’s Petronas Carigali Sdn Bh. A total of 14 development wells are planned for Telok’s two planned platforms, Exxon said, without disclosing current production. In 2011, the company targeted peak production at Telok of 370 million cubic feet per day. Shares of Exxon declined 0.3% in New York in early Monday trading.
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