Under the deal, the company will provide 18,000 barrels per day of supply capacity at Tesoro’s refinery in Salt Lake City in the US state of Utah.
Newfield said that the new agreement secures additional supply capacity for its planned oil growth in the Uinta Basin, and the company will start supplying crude to the Salt Lake City refinery in 2013.
Newfield chairman, president and CEO Lee Boothby said the Uinta Basin is the company’s centerpiece oil asset and the new agreement is a significant step towards securing the necessary oil refining capacity to support the company’s future growth plans.
