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U.S. supermajor ExxonMobil has yet to hit the major offshore oil discovery in Brazil, though it has spent years and billions of dollars securing drilling rights in one of the most prolific offshore basins, Reuters reported on Monday, citing sources with knowledge of recent well drilling. results. In 2021, Exxon drilled two wells in the Opal and Tita blocks. According to the Brazilian oil industry regulator ANP, Exxon found traces of oil and gas in the Tita block, Bnamericas reported in November. Exxon paid the equivalent of $560 million to secure a majority stake in the block in a bid held in 2018. Exxon was evaluating well results in November, but apparently did not find enough evidence to justify grading to drilling appraisal wells, Reuters sources now say. Exxon and partners have spent $4 billion securing drilling rights in offshore blocks in Brazil in bids over the past five years, according to Reuters estimates. However, the supermajor has yet to make that big discovery that would lead to the sanction of a project to pump oil from what other companies have discovered to be a prolific offshore basin. The drilling setback is rare for Exxon, which hit so much oil off the coast of Guyana, which borders Brazil to the north, that it helped make it the latest oil producing and exporting nation in late 2019. Since 2015 , when he discovered oil for the first time. Offshore of Guyana, Exxon has made more than 20 discoveries in the waters of the South American country. Last week, Exxon said it started production on Guyanas second offshore oil development in the Stabroek Block, Liza Phase 2, bringing total production capacity to over 340,000 barrels per day (bpd). Output from the floating, production, storage and offloading (FPSO) vessel Liza Unity is expected to reach its target of 220,000 bpd this year and adds to the capacity of over 120,000 bpd in the Liza Phase 1 project launched in December 2019. |
