Russia News.Net reported that two pipeline companies have agreed they will go halves on a 149 mile offshore pipeline in the Gulf of Mexico.

As per report, Enterprise Products and Genesis Energy will build the system with Enterprise as the operator.

Oil producers, Anadarko Petroleum, Apache, Exxon Mobil, Eni, Petroleo Brasileiro and Plains Exploration will benefit from the pipeline which will be established in Keathley Canyon, the site of the 1st major crude oil discovery in the US Gulf.

The JV will be called the Southeast Keathley Canyon Pipeline and will open in 2014. It will be an 18 inch pipeline which will transport 115,000 barrels of crude oil to a floating production platform before moving the oil onshore.

Keathley Canyon in the southeastern part is estimated to hold about 300 million barrels of reserve oil.

(Sourced from www.russianews.net)