ExxonMobil Acquires Exploration Acreage Offshore Ghana
January 18 2018 - 9:00AM
Business Wire
ExxonMobil today announced that it has signed a petroleum
agreement with the government of Ghana to acquire exploration and
production rights for the Deepwater Cape Three Points block. The
agreement is subject to parliamentary ratification.
Exploration activities, including acquisition of seismic data
and analysis, are expected to commence later in 2018. The Deepwater
Cape Three Points block, located 57 miles (92 kilometers) off the
coast of Ghana, measures approximately 366,000 acres (1,482 square
kilometers) in water depths ranging from 5,085 feet to 9,350 feet
(1,550 meters to 2,850 meters).
“The addition of this block reaffirms ExxonMobil’s commitment to
pursuing high-quality projects in areas with large resource
potential,” said Steve Greenlee, president of ExxonMobil
Exploration Company. “We are excited to partner with the government
of Ghana as we employ our significant upstream experience and
technological expertise in assessing the exploration opportunities
in this block.”
ExxonMobil will carry out the work program as operator, and
holds 80 percent interest. Ghana National Petroleum Corporation
holds 15 percent interest. ExxonMobil will work with the government
to identify a Ghanaian company to potentially hold up to 5 percent
interest.
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 discussed under the heading “Factors Affecting Future
Results” available through the Investors page of our website at
exxonmobil.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180118005116/en/
ExxonMobilMedia Relations, 972-940-6007
Exxon Mobil (NYSE:XOM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Exxon Mobil (NYSE:XOM)
Historical Stock Chart
From Apr 2023 to Apr 2024