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Carcara field contains more than 2 billion barrels of high-quality oil
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Development planning, appraisal and further exploration underway
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ExxonMobil now holds more than 2.1 million net acres in one of the
most significant oil plays
ExxonMobil
said today it has completed the purchase of half of Equinor’s interest
in the BM-S-8 block offshore Brazil, which contains part of the
2-billion-barrel, pre-salt Carcara oil field.
“The Carcara oil field is an excellent example of the quality resources
to be found offshore Brazil,” said Brad Corson, president of ExxonMobil
Upstream Ventures. “We’ll be working with our partners to explore and
develop these shared blocks, and contributing our deepwater technology
and expertise to further enhance the value of this world-class resource.”
Production from the field is expected to start in 2023 or 2024.
ExxonMobil and its co-venturers are advancing development activities,
including concept selection and finalizing all remaining commercial
agreements. Exploration drilling began on the Guanxuma prospect in
BM-S-8 on April 25.
ExxonMobil now holds a 36.5 percent interest in the BM-S-8 block and
Equinor holds 36.5 percent. Petrogal Brasil and Barra Energia each hold
17 percent and 10 percent, respectively.
ExxonMobil has a 40 percent interest in the North Carcara block adjacent
to BM-S-8, with co-venturers Equinor (formerly Statoil) and Petrogal
Brasil. The block contains the other part of the significant Carcara
field. Equinor is the operator of both Carcara North and BM-S-8.
ExxonMobil has interests in 24 blocks offshore Brazil, totaling more
than 2.1 million net acres. The company has had business activities in
Brazil for more than 100 years and has about 1,300 employees in the
country across its chemical, upstream and business service center
operations.
About ExxonMobil
ExxonMobil, the largest publicly traded international oil and gas
company, uses technology and innovation to help meet the world’s growing
energy needs. ExxonMobil holds an industry-leading inventory of
resources, is the largest refiner and marketer 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; and other
factors cited under the caption “Factors Affecting Future Results” on
the Investors page of our website at exxonmobil.com. References to
barrels of oil include amounts that are not yet classified as proved
reserves under SEC definitions but that we believe will ultimately be
produced and moved into the proved reserve category.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180605006637/en/
Copyright Business Wire 2018
Source: Business Wire
(June 6, 2018 - 2:00 AM EDT)
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