One of the largest publicly traded international oil and gas companies in the world – ExxonMobil has incredible plans that include the Brazilian and Guyanese markets.
ExxonMobil expects Brazil and Guyana to be the main drivers of the oil and gas market's growth ambitions going forward, as the American supermajor intends to concentrate the bulk of 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 of us”, we have reduced capital expenditures globally by 30%, but we continue to invest in exploration in the offshore oil and gas market to grow, and Brazil and Guyana have robust and very competitive projects,” said ExxonMobil Brasil president Carla Lacerda on a panel at the Rio Oil & Gas 2020 digital conference on Wednesday.
ExxonMobil has plans to drill in Brazil's offshore oil and gas market
ExxonMobil plans in January to start a drilling campaign for two oil wells in Brazil targeting pre-salt deposits using the Seadrill West Saturn drillship. The program will consist of drilling the pioneer Opal in Block CM-789 in the Campos basin and the Titan prospect in the Tita pre-salt area, in the Santos basin.
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 conducted an aggressive exploration campaign that has resulted in nearly 20 discoveries to date 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 play an important role in the world”, added Lacerda.
“Our double challenge will be to continue producing energy more responsibly and with less carbon emissions. And Brazil will play a relevant role”.
Participating in the same panel, the president of Shell Brasil, André Araújo, said that the Anglo-Dutch super-major has been focusing on capital discipline, adding that the company is also looking for renewable sources to grow.
“We have teams in Brazil analyzing oil and gas, but also solar energy and other renewable energy sources. There has to be a balance between hydrocarbons and renewable energy in the future,” said Araújo.
