N'DJAMÉNA (November 18, 1997) - At a meeting at the Palais du 15 Janvier today, Esso Exploration and Production Chad, Inc. provided an update on the status of the SEERAT and the Chad oil export projects. It also outlined plans for public consultation regarding the Chad oil export project's Environmental Assessment.

The Environmental Assessment - released by the Government of Chad to the World Bank on October 24th - follows five years of environmental planning and design activities as well as consultation with affected groups.

Mr. Jean-Pierre Petit, General Manager of Esso Exploration and Production Chad, Inc. commented, "Over the next few weeks the balance of the environmental and socioeconomic studies will be released to the World Bank and to the public. Now that these plans are being released, it's important to move the consultation activities to a new level." He added, "We've had widespread consultation with affected parties and we intend to continue to seek input from the people of Chad."

The consultations have involved meetings with key stakeholders to provide an opportunity for direct input and dialogue. The next phase of these sessions will occur later this week in N'Djaména, with local non-government organizations. Other meetings have already taken place in Doba and Moundou. Follow-up sessions to these will occur later this year.

The Chad oil export project includes drilling about 300 wells and construction of oil field facilities in the Doba area, as well as construction of a pipeline from Chad through Cameroon to the Atlantic coast.

The project is being developed by a Consortium of international oil companies, with Esso as operator and including Shell and Elf. The Consortium expects oil production to begin in late 2001. The timing is dependent, in part, on project financing being in place in 1998. The World Bank's participation is essential in that it provides the necessary funds for Chad to have important ownership in the project as well as providing encouragement to other project leaders.

Esso has established a business and employment office in N'Djaména. This office is staffed by a Coordinator, Mr. Joel Pastor, who is available to advise on all aspects of the business and employment plan. He can be contacted at telephone 52.50.64.