FIRST U.S. FPS AT CENTER OF CONTROVERSY OVER CALIFORNIA OFFSHORE OIL

Exxon Co. U.S.A. remains ahead of schedule with its $2.5 billion Santa Ynez Unit (SYU) further development project in the Santa Barbara Channel off California. Initial SYU development, of Hondo field, involved the first commercial use of a floating production system (FPS) off the U.S. It may be the only FPS scheme ever dictated by politics.

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