HOUSTON, May 04, 2010 (BUSINESS WIRE) -- Enterprise Products Partners L.P. (EPD 33.21, -0.31, -0.93%) and Anadarko Petroleum Corporation (APC 61.80, -0.03, -0.05%) today announced that they are recipients of the Distinguished Achievement Award presented by the Offshore Technology Conference for their groundbreaking Independence project in the ultra-deepwaters of the Gulf of Mexico. The award, which was presented May 4th in Houston, is given annually for unique achievements in, or contributions to, the various fields of offshore technology. Previous recipients have included organizations responsible for accomplishments in areas such as the design, development and construction of equipment, tools, technical services and vessels, as well as individuals who have demonstrated outstanding leadership, service or environmental stewardship. In 2007 Enterprise and Anadarko teamed up to win the award for the Marco Polo project, which involved the application of tension leg platform technology in the deepwater Gulf of Mexico.
The Independence project represents an innovative solution for developing natural gas reserves in the Gulf of Mexico that would have otherwise remained stranded because of the prohibitive cost of constructing individual production platforms. The hub concept utilized by Independence, consists of a centrally-located natural gas processing platform which is connected to subsea production infrastructure and the 134-mile Independence Trail pipeline that delivers natural gas to shore. The $2 billion initiative involved designers, engineers, construction contractors, installation crews, specialty equipment and vessels from the United States and abroad. By the time it was completed, the project had produced numerous technical achievements and record-breaking accomplishments, including:
-- the world's deepest hub platform - 8,000 feet of water
-- the world's deepest subsea production -- 9,000 feet of water
-- the Gulf of Mexico's largest natural gas processing facility -- 1 billion cubic feet per day of capacity
-- the world's deepest export pipeline -- 8,000 feet of water
-- the world's longest mooring lines -- 2.4 miles each
-- 210 miles of flowlines
-- development of 17 wells from initial 10 fields
"In selecting Independence for this honor, the members of the OTC awards committee have recognized not only the technical milestones resulting from this ambitious undertaking, but also its significance as an important addition to our domestic infrastructure," said Michael A. Creel, Enterprise president and chief executive officer. "Independence has the capability to handle approximately 12 percent of daily natural gas deliveries from the Gulf of Mexico and provides the industry with a new business model for future development of Gulf of Mexico reserves, particularly in the deepwater region."
"This is well-deserved recognition for the men and women that made this remarkable project a reality," said Jim Hackett, Anadarko chairman and chief executive officer. "Independence Hub's industry-leading technology has safely produced more than a trillion cubic feet of clean-burning natural gas for American consumers and has played a foundational role in our nation's cleaner and more secure energy future."
While the many technical and engineering breakthroughs contributed significantly to the success of Independence, the project would not have been possible if not for the strong, collaborative working relationship between the various midstream and upstream companies involved.
The Independence Hub is owned 80 percent by Enterprise and 20 percent by Helix Energy Solutions Group, Inc. The Independence Trail pipeline is owned 100 percent by Enterprise. The Atwater Valley producers group, which has working interests in and operates the discovery fields and the hub platform, is comprised of Anadarko, Devon Energy Corporation, Eni, and StatoilHydro.
Enterprise Products Partners L.P. is the largest publicly traded energy partnership and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. The partnership's assets include: 49,100 miles of onshore and offshore pipelines; approximately 190 million barrels of storage capacity for NGLs, refined products and crude oil; and 27 billion cubic feet of natural gas storage capacity. Services include: natural gas transportation, gathering, processing and storage; NGL fractionation (or separation), transportation, storage, and import and export terminaling; crude oil and refined products storage, transportation and terminaling; offshore production platform; petrochemical transportation and storage; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. For additional information visit www.epplp.com. Enterprise Products Partners L.P. is managed by its general partner, Enterprise Products GP LLC, which is wholly owned by Enterprise GP Holdings L.P. (EPE 43.82, -0.26, -0.59%). For more information on Enterprise GP Holdings L.P., visit www.enterprisegp.com.
Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world's health and welfare. As of year-end 2009, the company had approximately 2.3 billion barrels-equivalent of proved reserves, making it one of the world's largest independent exploration and production companies. For more information about Anadarko, please visit www.anadarko.com.
SOURCE: Enterprise Products Partners L.P. & Anadarko Petroleum Corporation
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