ExxonMobil Wins Eight Deepwater Blocks in Latest Brazil Bid Round

Source Press Release
Company ExxonMobil 
Tags Licensing Rounds, Deals, Upstream Activities
Date March 29, 2018
  • ExxonMobil now one of Brazil’s largest acreage holders among international companies
  • Adds more than 640,000 net acres to ExxonMobil’s deepwater portfolio offshore Brazil
  • Seismic data acquisition planned in 2018 for operated blocks announced in 2017

ExxonMobil has increased its holdings in Brazil’s pre-salt basins after winning eight additional exploration blocks during Brazil’s 15th bid round. The blocks awarded add about 640,000 net acres to the  ExxonMobil portfolio. Six of the eight newly awarded blocks will be operated by  ExxonMobil.

The additional blocks expand the company’s total position in the country to more than two million net acres, making it one of the largest acreage holders among international companies in Brazil.

“These recent bid round results add highly prospective acreage to ExxonMobil’s deepwater portfolio that we will explore and develop with our partners,” said Steve Greenlee, president of ExxonMobil Exploration Company. “This acreage in Brazil’s pre-salt play will provide excellent opportunities to deploy our deepwater expertise. We will continue working with the government to develop these world-class resources for the benefit of Brazilians for many years to come.”

ExxonMobil and its partners jointly won a total of eight blocks, which include:

ExxonMobil plans to obtain 3-D seismic coverage in 2018 on more than 4,000 square kilometers, including all of the  ExxonMobil-operated exploration blocks announced in 2017, subject to permitting approvals.

The company now has interests in 24 blocks offshore Brazil. ExxonMobil has worked in Brazil for more than 100 years.

Source: EvaluateEnergy® ©2020 EvaluateEnergy Ltd