ExxonMobil Acquires Exploration Acreage in Three Mauritania Offshore Blocks

Dec 4, 2017 - 09:00 AM EST

Dateline:

IRVING, Texas

Public Company Information:

NYSE:
XOM

IRVING, Texas--(BUSINESS WIRE)--ExxonMobil today announced that its wholly owned affiliate, ExxonMobil Exploration and Production Mauritania Deepwater Ltd., has signed production sharing contracts with the government of Mauritania for three deepwater offshore blocks.

“These blocks further enhance ExxonMobil’s leading global deepwater acreage position,” said Steve Greenlee, president of ExxonMobil Exploration Company. “We thank the government of Mauritania for the opportunity to evaluate the potential of this acreage using our expertise and advanced technology.”

Blocks C22, C17 and C14 are located an average of 124 miles, or 200 kilometers, offshore Mauritania. Together they measure nearly 8.4 million acres in water depths ranging from 3,300 feet to 11,500 feet, or 1,000 meters to more than 3,500 meters.

Following government approval of the contracts, ExxonMobil will begin exploration activities, including acquisition of seismic data and analysis.

ExxonMobil will carry out the work program as operator with 90 percent interest. Societe Mauritanienne des Hydrocarbures et de Patrimoine Minier holds a 10 percent interest.

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Cautionary Statement: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans and schedules 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 efforts; technical or operating factors; the outcome of future commercial negotiations; and other factors discussed under the heading “Factors Affecting Future Results” available through the Investors page of our website at exxonmobil.com.

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