- Exxon Mobil (NYSE:XOM) is targeting western and southern Africa for the world’s next big oil bonanza, exploration chief Stephen Greenlee tells Bloomberg, as the company searches the globe to repeat its success in Guyana.
- Greenlee says XOM “loaded” its exploration portfolio recently by purchasing large positions in Ghana, Mauritania, South Africa and Namibia, as well as Cyprus and Malaysia, "acquiring large amounts of seismic data with the idea that in the future one or two of those are going to turn out to be the next Guyana."
- XOM plans to drill “an important well” in Cyprus this year in addition to working on its more-established exploration areas in Guyana and Brazil, Greenlee says.
- Brazil’s “accretive value” ranks very similar to the Permian Basin in the U.S., Greenlee says: XOM considers Brazil one of its five top projects for the next decade alongside Guyana, U.S. shale and liquefied natural gas in Mozambique and Papua New Guinea.
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