ExxonMobil acquires exploration acreage offshore Egypt
Published by Nicholas Woodroof,
Editor
Oilfield Technology,
“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
Wood Mackenzie: six-country international shale priority list for energy security as Middle East conflict drives supply diversification
Middle East conflict has elevated strategic energy security priorities as countries seek supply diversification, international shale exploration can play a key role in meeting those goals, according to new research from Wood Mackenzie, titled “A hydrocarbon copy: the upstream industry’s return to international shale exploration”.