Point Thomson Project Reaches Construction Milestones

  Point Thomson Project Reaches Construction Milestones

  *More than 1,100 Alaskans employed during winter work season
  *Permanent camp fully operational
  *Export pipeline completion expected this winter
  *Key subcontracts awarded to CH2M HILL Alaska

Business Wire

POINT THOMSON, Alaska -- September 13, 2013

ExxonMobil’s Point Thomson project successfully completed a number of
infrastructure milestones during the summer as part of an ongoing commitment
to Alaska’s energy future.

“ExxonMobil is strongly committed to hiring Alaskans and, with its
contractors, employed more than 1,100 Alaskans during the 2013 winter work
season,” said Gina Dickerson, senior project manager at Point Thomson. At its
peak, more than 500 people worked on Point Thompson site development this

Alaska Frontier Constructors were involved in completing the site airstrip and
finishing construction of a service pier. A permanent camp, providing meals
and housing to project workers, was built and is now fully operational. More
than 35 Alaska companies worked on the project during the summer.

Point Thomson’s telecommunications and power systems are also fully
operational. Completion of a condensate export pipeline – linking Point
Thomson to the trans-Alaska pipeline system – is expected this winter. More
than 2,200 vertical pipeline supports have been installed.

“Point Thomson’s infrastructure can help unlock the eastern portion of the
North Slope for expanded exploration and development activity,” said
Dickerson. “Along with our contractors and partners, we’re very proud to be
building a project on the North Slope that will significantly contribute to
realizing Alaska’s full energy potential.”

Worley Parsons Group Inc., the primary engineering, procurement, and
construction management contractor for Point Thomson, recently awarded two
subcontracts for the next major phases of development.

CH2M HILL Alaska was awarded a subcontract for the installation of production
system modules that make up the principle components of the permanent Point
Thomson facilities. CH2M HILL is partnering with ASRC Energy Services and
Delta Construction on field work beginning in 2014.

CH2M HILL Alaska was also awarded a subcontract to fabricate and install the
standby power-generation module, which will provide backup power for the
entire facility in 2014.

These subcontracts will provide employment opportunities for many Alaska-based

The Point Thomson Unit, operated by ExxonMobil on behalf of itself, BP,
ConocoPhillips, and other minor owners, is a remote natural gas field located
on Alaska’s North Slope, approximately 60 miles east of Prudhoe Bay. It is
estimated to hold about 25 percent of known North Slope natural gas. The
project is designed to initially produce 10,000 barrels per day of condensate
at startup in the winter of 2015/2016. A pipeline is being installed with
capacity of 70,000 bpd and will connect to the trans-Alaska pipeline.

CAUTIONARY STATEMENT: Estimates, expectations, and business plans in this
release are forward-looking statements. Actual future results, including
production rates, ultimate recoveries, and project plans and schedules, could
differ materially due to changes in market conditions affecting the oil and
gas industry or long-term oil and gas price levels; political or regulatory
developments; reservoir performance; timely completion of development
projects; technical or operating factors; and other factors discussed under
the heading "Factors Affecting Future Results" in the Investor Information
section of our website (www.exxonmobil.com) and in Item 1A of our most recent
Form 10-K. References to "recoverable resources" and similar terms include
quantities of oil and gas that are not yet classified as proved reserves but
that we believe will be produced in the future. The term "project" as used in
this release does not necessarily have the same meaning as under SEC Rule
13q-1 relating to government payment reporting. A single project for purposes
of that rule may encompass numerous properties, agreements, investments,
developments, phases, work efforts, activities, and components, each of which
we may also describe informally as a "project.”

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