ExxonMobil Named 2017 Explorer of the Year by World Oil and Gas Council
January 22 2018 - 9:30AM
Business Wire
- Award recognizes ExxonMobil’s
industry-leading exploration portfolio
- Significant discoveries made offshore
Guyana during the year
- ExxonMobil portfolio strengthened
through acquisitions and other activities
ExxonMobil has been named 2017 Explorer of the Year by the World
Oil and Gas Council in recognition of excellence and innovation in
the global energy industry.
“This award is recognition of ExxonMobil’s successful efforts to
strengthen our portfolio by accessing and discovering the highest
quality resources,” said Steve Greenlee, president of ExxonMobil
Exploration Company. “This recognition would not be possible
without the dedication of our employees and their daily commitment
to safety and operational excellence at every stage of
exploration.”
During the year, ExxonMobil announced a number of discoveries,
acquisitions and other activities in various countries, including
Brazil, Cyprus, Equatorial Guinea, Guyana, Mauritania, Papua New
Guinea and Suriname.
Significant exploration activity took place offshore Guyana,
where ExxonMobil announced four discoveries in 2017 at Payara, Liza
Deep, Snoek, and Turbot. These four discoveries added to the
earlier Liza discovery, made in 2015.
Mike Cousins, executive vice president of ExxonMobil Exploration
Company, accepted the award on behalf of ExxonMobil at an award
dinner in London in December. He was accompanied by a number of
company representatives, including Kerry Moreland, Guyana Basin
exploration manager.
“Guyana has become an exciting exploration area where we have
consistently demonstrated our technical ability in deepwater
exploration and operations,” said Moreland. “We are planning for
continued success with our drilling program in 2018.”
Since receipt of the award in December 2017, ExxonMobil has
announced a sixth discovery offshore Guyana at the Ranger-1
exploration well.
Other notable ExxonMobil exploration highlights throughout the
year include:
Brazil
- In September and October, the company
added 14 blocks comprising more than 1.25 million net acres
offshore Brazil through bid rounds and farm-in agreements, bringing
its total acreage in the country to more than 1.4 million net
acres. These included an agreement to purchase half of Statoil’s
interest in an offshore block containing the Carcara field,
estimated to contain a recoverable resource of two billion barrels
of oil.
- In December, ExxonMobil signed a
memorandum of understanding with Petrobras to jointly identify and
evaluate potential business opportunities.
Cyprus
- In April, the company signed an
exploration and production sharing contract for offshore Block
10.
Equatorial Guinea
- In June, ExxonMobil signed a production
sharing contract with the government of Equatorial Guinea for
deepwater block EG-11.
Malaysia
- In November, ExxonMobil signed
production sharing contracts for acreage offshore Sabah,
Malaysia.
Mauritania
- In December, ExxonMobil signed
production sharing contracts for three offshore blocks: C22, C17
and C14.
Papua New Guinea
- In June, ExxonMobil announced positive
production well tests results from the Muruk-1 sidetrack 3 well.
ExxonMobil also drilled the P’nyang South-2 well, which
successfully confirmed an extension to the earlier P’nyang
discovery.
- Across Papua New Guinea, ExxonMobil
acquired an additional 5.7 million net acres of prospective
acreage, onshore and offshore.
Suriname
- In July, ExxonMobil signed a production
sharing contract for Block 59 offshore Suriname in the
Guyana-Suriname Basin.
United States – Gulf of Mexico
- In March and August, ExxonMobil was
awarded 25 blocks in the U.S. Gulf of Mexico lease sales.
About ExxonMobil
ExxonMobil, the largest publicly traded international energy
company, uses technology and innovation to help meet the world’s
growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is one of the largest refiners and
marketers of petroleum products, and its chemical company is one of
the largest in the world. For more information, visit
www.exxonmobil.com or follow us on Twitter
www.twitter.com/exxonmobil.
Cautionary Statement: Statements of
future events or conditions in this release are forward-looking
statements. Actual future results, including project plans and
schedules and resource recoveries could differ materially due to
changes in market conditions affecting the oil and gas industry or
long-term oil and gas price levels; political or regulatory
developments; reservoir performance; the outcome of future
exploration and development efforts; technical or operating
factors; the outcome of future commercial negotiations; and other
factors. References to barrels of recoverable resource include
quantities that are not yet classified as proved reserves under SEC
definitions but that we believe will ultimately be produced.
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