ExxonMobil achieves first production at Point Thomson

ExxonMobil announced first production at the 9.4-tcfe Point Thomson field on Alaska's North Slope on 22 April 2016. The field was discovered in 1977 and holds a quarter of the North Slope's known gas resource. Since there is no gas export line in place from the North Slope, the first phase of development is a 10,000 b/d gas-cycling project that will produce condensate. Under our base case, the field generates a return of under 10%; however, it is critical to the longer-term commercialisation of over 30 tcf of known North Slope gas reserves.