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Exxon-operated Hebron project comes online ahead of schedule

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Exxon-operated Hebron project comes online ahead of schedule

The Exxon Mobil Corp.-operated Hebron project has come online ahead of schedule and produced its first barrel of oil on Nov. 27.

The project is expected to yield up to 150,000 barrels of oil per day from the Hebron field, which estimated to contain over 700 million barrels of recoverable resources, Exxon said in a Nov. 28 news release.

The Hebron platform, located 350 kilometers offshore Newfoundland and Labrador in the Jeanne d'Arc Basin, houses drilling and production facilities and has a storage capacity of 1.2 million barrels of oil.

Hebron is operated by Exxon affiliate, ExxonMobil Canada Properties, which holds majority stake in the project at 35.5%. Chevron Canada has a 29.6% interest, Suncor Energy Inc. holds 21%, Statoil Canada Ltd. has 9% and Nalcor Energy - Oil and Gas Inc. has a 4.9% stake in the project.