ExxonMobil

Updates about global exploration and production activities and developments.

Big oil companies are backing direct lithium extraction while the market flashes warning signs.

As LNG projects sanctioned earlier this decade come onstream, a shortage of new final and pre-final investment decisions threatens to leave the project pipelines dry at a time when global LNG demand is forecast to surge over the next 15 years.

Chevron now holds a 30% stake in a prolific offshore Guyana development, where oil production is expected to ramp up over the next few years.

ExxonMobil moves forward with the decommissioning of a 25-year-old deepwater US Gulf development.

While militant attacks halted construction at Mozambique’s onshore megaprojects, Eni began LNG exports using a floating production strategy, which now serves as the foundation for its ongoing development.

The investment underscores ExxonMobil’s pivot to Nigeria’s offshore after it finalized the divestiture of its onshore assets in the country.

The authors of this paper write that the use of high-angle wells through anisotropic shale formations represents a promising approach to improving oil recovery while reducing the overall number of wells required.

Hammerhead, the seventh planned project offshore Guyana, is expected to reach FID later this year and go on-stream in 2029.

ExxonMobil and Guyana expect to approach 1 million B/D of oil as the ONE Guyana vessel reaches the Stabroek block.