Esso REP pursues opportunities in France

06/24/2002
Esso REP, Esso's E&P arm in France, is pursuing offshore opportunities, attempting to limit declines in onshore oil fields, and cutting operational costs.Esso Rep has been looking for a partner the past two years to start its assessment of the offshore potential of the Bay of Biscay, where it holds the Aquitaine Maritime and Cap Ferret Ocean permits. The search for a partner goes on.Esso France chairman and chief executive officer Patrick Heinzle laid the lack of enthusiasm for prospecting in France to the tax conditions, in particular the government's scrapping of the depletion allowance.Esso Rep's onshore oil production fell 11% to 7,160 b/d in 2001, and that decline and low...
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