Upstream operations: Europe

ExxonMobil continues to progress exploration activities and development projects in Europe. We are increasing recovery from our existing investments through targeted work programs and implementing new technology in several projects.

Report Apr. 3, 2018

IN THIS ARTICLE

Upstream operations: Europe

2017 highlights

  • Captured Cyprus offshore Block 10
  • Generated significant cash flow with divestment of operated assets in Norway
  • Supplied nearly 4 Bcfd of natural gas to European markets via pipeline gas and LNG
  • Completed concept selection for Neptun Deep project offshore Romania

Cyprus

In April 2017, ExxonMobil, along with partner Qatar Petroleum, signed an exploration and production sharing contract with the government of the Republic of Cyprus for offshore exploration in Block 10. We completed the acquisition of more than 5,500 square kilometers of 3D seismic data; technical and commercial evaluations are ongoing. We intend to begin exploration drilling in 2018.

Norway

We divested portions of our mature upstream business to Point Resources AS in 2017. We retain a large presence in Norway through significant equity participation in 20 partner-operated offshore fields, with net production of 102,000 barrels of liquids and 397 million cubic feet of natural gas per day.

Romania

As operator of the Neptun Deep license in the Black Sea, we recently selected a development concept and completed associated early engineering and construction planning. The concept leverages our cMIST proprietary technology, which dehydrates natural gas inside pipes instead of in costly towers. Detailed engineering, contracting, and commercial viability studies will continue in 2018.

 

Highlight: LNG joint ventures with Qatar

Aerial view of facility in the Adriatic Sea.
Photo — The Adriatic LNG terminal is located offshore Italy. It is the world’s first gravity-based offshore LNG terminal. In 2017, 77 cargoes were offloaded.

ExxonMobil supplies natural gas to the European market through LNG from our joint ventures with Qatar Petroleum. We jointly own receiving terminals in Italy and the United Kingdom.

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Upstream operations: Africa

ExxonMobil’s Africa operations accounted for 11 percent of our 2017 global net oil and natural gas production. We recently captured significant acreage with deepwater potential offshore Mauritania and South Africa. ExxonMobil holds interests in 22 deepwater blocks in Africa, totaling about 37 million acres.

Digital Annual Report Report Apr. 3, 2018

Upstream operations: Australia / Oceania

ExxonMobil is one of the leading oil and natural gas producers in the Australia/Oceania region. In 2017, net production averaged 54,000 barrels of liquids and 1.3 billion cubic feet of natural gas per day.

Digital Annual Report Report Apr. 3, 2018

Global operations

As the world’s largest publicly held international oil and gas company, ExxonMobil has a diverse portfolio of high-quality projects and opportunities across our Upstream, Downstream, and Chemical businesses.

Digital Annual Report Report