ExxonMobil won eight new areas in Brazil

ExxonMobil has declared it 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 2,630 km² 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 3,130 km², making it one of the largest holders among international companies in Brazil.
The awarded areas include two blocks in the Santos area which ExxonMobil will operate with partner Qatar Petroleum, four blocks in the Campos area, operated with Petrobras, Qatar Petroleum and Statoil, and two blocks in the Sergipe-Alagoas area which ExxonMobil will operate with partners Queiroz Galvão Exploração e Produção and Murphy Oil Corporation, and which will enhance the value of adjacent blocks already held.
ExxonMobil plans to obtain 3D 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.