After nine years absent from the Brazilian market, ExxonMobil returns to the O&G exploration and production business
ExxonMobil, a publicly traded international oil and gas company, uses technology and innovation to help meet the world's growing energy needs. ExxonMobil has an industry-leading inventory of resources and is also one of the largest oil refiners in the world. After nine years absent from the Brazilian market, ExxonMobil returns to the O&G exploration and production market and has already invested approximately US$ 3,5 billion in the country.
Carla Lacerda, president of the company in Brazil says that the return to business was only possible after changes in regulations that make it possible to work with more flexibility. In September 2017, ExxonMobil decides to invest once and for all in the sector, looking to the future and possibilities in the acquisition of new exploration and production fields, mainly the pre-salt. In an interview with a European newspaper, Steve Greenlee, president of ExxonMobil Exploration Company said the following. “Brazil continues to represent a key investment for ExxonMobil and we look forward to exploring and developing its world-class resources with our co-venturers and the government.”
ExxonMobil plans to achieve seismic coverage in 2019 over 7.500 square miles. 3-D seismic survey work is already underway on two blocks in the Northern Campos region, off the coast of Brazil. Preparations are underway to obtain the necessary approvals to commence drilling activities. Development plans are also underway at the Carcará field, operated by Equinor, where drilling began in late April. The Carcará field contains an estimated recoverable resource of more than 2 billion barrels of high quality oil. The multinational proved that it has plans for the Brazilian market, thus being able to open thousands of business and job opportunities in Brazil.
