- Acquired 25 percent interest in Mozambique Area 4
- Progressing polymer-enhanced oil recovery in Chad
- Developing infrastructure to supply natural gas to the domestic power market in Nigeria
- Commenced acquisition of fourth 4D seismic survey offshore Equatorial Guinea
In December, ExxonMobil completed a transaction to acquire 25 percent indirect interest in the natural gas-rich deepwater Area 4 block offshore Mozambique, including operatorship of the future onshore LNG trains and related facilities. This strategic capture provides access to an estimated 85 trillion cubic feet of natural gas in-place, at a cost of supply that is among the lowest for new LNG projects.
Also, together with Rosneft, we advanced exploration and production contracts for offshore blocks A5-B, Z5-C, and Z5-D, which were awarded as part of Mozambique’s fifth licensing round.
Entry into Mozambique strengthens our position in the global LNG market by providing access to significant discovered resources and undiscovered potential with a low cost of supply.
We produce 153,000 net barrels per day in Angola, with eight floating production, storage, and offloading (FPSO) vessels positioned across 1 million acres. Our three deepwater blocks hold 5 billion gross barrels of resource. With start-up anticipated in 2018, the Block 32 Kaombo Split Hub will use two FPSO vessels to recover approximately 600 million gross barrels of oil.
ExxonMobil is one of the leading oil producers in Chad, with average net production of 16,000 barrels of oil per day in 2017. ExxonMobil continues to support Chad resource development by progressing Polymer Enhanced Oil Recovery, which has the potential to play a significant role in maximizing reserves, recovery, and asset profitability. The polymer increases the viscosity of water, allowing it to push the heavier oil through the reservoir and increase ultimate recovery.
ExxonMobil continues to develop our offshore Nigeria interests. We operate the deepwater Erha, Erha North, and Usan fields and produce from co-venturer-operated fields. We also operate a shallow-water joint venture with the Nigerian National Petroleum Corporation offshore Nigeria.