El Paso Energy yesterday announced subsidiaries would developits interest in the Prince prospect, installing a multi-purposetension leg platform (TLP), in the Ewing Bank Block 958 unit in theGulf of Mexico.

“This project is El Paso Production’s first in the Deepwater,”said Jack Holmes, president of the production company. El PasoEnergy Partners L.P. will install the platform and pipelinedelivery infrastructure.

The company has initiated construction of the Moses TLP underits contract with Modec International LLC, a jointly-owned companyof FMC Corp. and the Mitsui group. The platform will be installedin 1,500 feet of water about 110 miles offshore Louisiana and willbe capable of handling up to 50,000 b/d and 80 MMcf/d. Delivery ofthe platform is planned for April 2001, with production starting inJune.

In November, 1999 El Paso Energy Partners transferred itsinterest in Prince to the production company under a farmoutagreement, suspending design and engineering work on the TLPpending results of additional drilling. El Paso Production recentlycompleted the fourth successful delineation well.

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