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One Of The Largest International Oil And Gas Publicly Traded Companies In The World – ExxonMobil Has Amazing Plans That Include The Brazilian And Guyana Markets.
ExxonMobil expects Brazil and Guyana to be the main drivers of its oil and gas market growth ambitions in the future, as the American supermajor aims to concentrate most of its exploration and production development activities in the two South American nations.
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“We have a robust oil and gas market exploration program ahead,” we reduced global capital spending by 30%, but we continue to invest in offshore oil and gas exploration to grow, and Brazil and Guyana have strong and very competitive projects,” said ExxonMobil Brazil President Carla Lacerda at a panel during the digital conference Rio Oil & Gas 2020 on Wednesday.
ExxonMobil Has Drilling Plans In The Offshore Oil And Gas Market In Brazil
ExxonMobil plans to start a drilling campaign for two oil wells in Brazil in January targeting pre-salt deposits using the Seadrill West Saturn drilling ship. The program will consist of drilling the pioneering Opal in Block CM-789 in the Campos Basin and the Titan prospect in the pre-salt area of Tita, in the Santos Basin.
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However, ExxonMobil is expected to exercise a contractual option to keep the oil and gas platform operating longer in Brazil, as the company also plans to drill at least one exploration well in the deepwater section of the Sergipe-Alagoas Basin in the second half of 2021.
ExxonMobil Unit In Guyana Continues
In Guyana, ExxonMobil has been conducting an aggressive exploration campaign that has resulted in nearly 20 discoveries so far in the prolific Stabroek block. “Our biggest challenge is to keep our operations resilient, but in the long term – until 2040 – we still believe that oil and natural gas will have an important role in the world,” Lacerda added.
“Our dual challenge will be to continue producing energy more responsibly and with fewer carbon emissions. And Brazil will have a relevant role.”
Participating in the same panel, Shell Brazil President André Araújo said that the Anglo-Dutch supermajor has been focusing on capital discipline, adding that the company is also seeking renewable sources for growth.
“We have teams in Brazil analyzing oil and gas, but also solar energy and other renewable energy sources. There needs to be a balance between hydrocarbons and renewable energies in the future,” said Araújo.
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