Exxon Mobil Corporation is the parent company of the Esso, Mobil and ExxonMobil companies that operate in the United Kingdom. During 2007 we invested over £383 million in the UK North Sea.
We have an interest in nearly 60 producing oil and gas fields in the UK and hold the largest net licensed acreage on the UK Continental Shelf. We are responsible for 10 per cent of the UK's total oil and gas production. In 2007, we supplied the UK and international markets with an average of 150,000 barrels of oil and 779 million cubic feet of gas a day. The principal ExxonMobil subsidiaries involved in offshore operations in the UK are Esso Exploration and Production UK Limited and Mobil North Sea LLC. Both Esso and Mobil have been major investors in the UK's offshore oil and gas industry since the first exploration activities in the North Sea began in 1964. Combined investment from that time is the equivalent to over £31 billion at today's prices. Esso is one of the largest investors in the UK offshore industry. Investment in the North Sea is managed through a 50/50 joint operation with Shell. In the early days of North Sea exploration, Esso and Shell decided to pool their financial, technical and managerial resources and to share equally the risks and profits of a joint operation in the North Sea. Shell U.K. Exploration and Production was designated the operator in an agreement that was signed in April 1965. Shell is still the designated operator for many of the fields in this joint operation. As well as being a significant investor, Mobil North Sea LLC is also the designated operator of fields in the northern North Sea. It also operates an onshore gas processing facility at St Fergus in Scotland. ExxonMobil does not have any interests in onshore oil and gas fields in the UK.
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