Exxon expands Eastern Mediterranean offshore holdings

ExxonMobil has secured more than 1.7 million acres for exploration offshore Egypt. Increases polyethylene plant production capacity by 65 percent or 650,000 tons-per-year. It acquires more than 1.7 million acres offshore Egypt. Mako-1 well is located southeast of the Liza field on the Stabroek Block, which began producing oil Dec. 20, 2019.

Production for Liza Phase 1 to reach full capacity of 120,000 barrels of oil per day in the coming months. ExxonMobil issued the statement in response to the verdict from the Supreme Court of the State of New York. It look forward to working with the government and deploying our proven expertise and advanced technology.

The agreement to optimize carbonate fuel cell technology for large-scale carbon capture. It continues status as a founding member for an additional five years. United Way of Beaumont and North Jefferson County to receive $200,000. The acquisition includes acreage in the 1.2 million-acre North Marakia Offshore block.

The project supported more than 2,000 temporary jobs and approximately 40 permanent jobs. It adds upstream interests to longstanding downstream business in Egypt. It discovery adds to current resource estimate of more than 6 billion barrels of oil equivalent. It located approximately five miles offshore Egypt’s northern coast in the Herodotus basin.

Mike Cousins, senior vice president says “These awards strengthen our exploration portfolio in the Eastern Mediterranean”.

ExxonMobil exploring opportunities to deploy technology within its operations. It expands collaboration to include membership in MITEI’s Low-Carbon Energy Centers for Energy Storage. The agreement, worth up to $60 million, will focus efforts on optimizing the core technology.

The remaining 543,000 acres is in the North East El Amriya Offshore block in the Nile Delta. The exploration operations scheduled to begin in 2020. ExxonMobil will operate both blocks and hold 100 percent interest. ExxonMobil is exploring options to conduct a pilot test of next-generation fuel cell carbon capture solution at one of its operating sites.

Operations, including acquisition of seismic data, are scheduled to begin in 2020. These awards strengthen exploration portfolio in the Eastern Mediterranean. Liza Phase 1 is the first of multiple offshore projects planned in the Stabroek Block. Lawsuits that waste millions of dollars of taxpayer money do nothing to advance meaningful actions.

Hesham Elamroussy, chairman and managing director says “ExxonMobil has been a partner in Egypt’s growth for more than 115 years”.

Proprietary seismic inversion technology to define discovered resources. ExxonMobil is working to advance carbon capture technologies while reducing costs and enhancing scalability. This collaboration between academia and industry has benefited research in areas including solar.

These awards reaffirm our commitment to pursuing high-quality opportunities in the country. The acquisition includes acreage in the 1.2 million North Marakia Offshore block. The availability of new supplies of domestically produced natural gas liquids provide with a significant advantage.

ExxonMobil, the largest publicly traded international energy company, uses technology and innovation. American Red Cross to receive $150,000 for relief in the greater Houston area. ExxonMobil has been supporting MITEI researchers over the last five years to help develop breakthrough solutions.

The awards add upstream interests to ExxonMobil’s long-standing downstream presence in Egypt. ExxonMobil will operate both blocks and hold 100 percent interest. Mako-1 encountered approximately 164 feet (50 meters) of a high-quality oil bearing sandstone reservoir. ExxonMobil holds an industry-leading inventory of resources.

This expanded agreement with FuelCell Energy will enable further progress on this unique carbon capture solution. It extend membership in MITEI’s Center for Carbon Capture, Utilization and Storage. ExxonMobil is contributing $200,000 to the United Way of Beaumont and North Jefferson County.

The project created 2,000 jobs during peak construction. New discoveries in this world-class basin have the potential to support additional developments. More than 1,700 Guyanese have worked on ExxonMobil activities in Guyana. FuelCell Energy’s proprietary technology uses carbonate fuel cells to efficiently capture.

Beaumont’s polyethylene plant expansion is part of ExxonMobil’s 2017 Growing the Gulf initiative. ExxonMobil has been a partner in Egypt’s growth for more than 115 years. Production from the first phase of the Liza field, located in the Stabroek Block. It has been a leading fuels, lubricants and specialties marketer since 1902.

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