ExxonMobil acquires exploration acreage offshore Egypt
Published by Nicholas Woodroof,
“These awards strengthen our exploration portfolio in the Eastern Mediterranean,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. “We look forward to working with the government and deploying our proven expertise and advanced technology.”
The acquisition includes acreage in the 1.2 million North Marakia Offshore block, which is located approximately five miles offshore Egypt’s northern coast in the Herodotus basin. The remaining 543 000 acres is in the North East El Amriya Offshore block in the Nile Delta.
ExxonMobil will operate both blocks and hold 100 percent interest. Operations, including acquisition of seismic data, are scheduled to begin in 2020.
“ExxonMobil has been a partner in Egypt’s growth for more than 115 years, and these awards reaffirm our commitment to pursuing high-quality opportunities in the country,” said Hesham Elamroussy, chairman and managing director of ExxonMobil Egypt.
Read the article online at: https://www.oilfieldtechnology.com/exploration/02012020/exxonmobil-acquires-acreage-offshore-egypt/
You might also like
Shell Ventures and Idékapital invest US$90 million in Kongsberg Digital
Shell Ventures and Idékapital has invested US$90 million in Kongsberg Digital to help accelerate the growth of the company.