ExxonMobil CEO Says Company Plans To Increase Its Exploration Activities In Brazil In 2020 And 2021

ExxonMobil CEO, Darren W. Woods Said, During a Presentation to Investors on the New York Stock Exchange, That the Company Aims to Increase Its Activities in Brazil

During a presentation to investors on the New York Stock Exchange (NYSE), Darren W. Woods, CEO of the oil company ExxonMobil, stated that the company plans to increase its exploratory activities in Brazil this year and in 2021.

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For this year, the expectation is that the company will drill a well in the Titan area, in the Santos Basin, where Exxon is the operator with a 64% stake, alongside QPI Brazil, which holds the remaining 36%.

For next year, it is expected that the company will drill in blocks SEAL-M-351 and SEAL-M-428, considering the expiry of the first and second exploratory periods of the areas. The request to Ibama for the activities’ license was submitted in September of last year.

Since 2018, ExxonMobil has submitted 3 environmental license applications to Ibama, involving the drilling of 33 wells in the country (17 in the Campos and Santos Basins, 11 in Sergipe-Alagoas, and 5 in Campos).

The CEO of the company also stated that the development of the first phase of the Bacalhau (Carcará) field is progressing on schedule. In this project, Equinor is the company’s partner.

In Brazil, Exxon has interests in 29 assets, being the operator in 19 of them.