ExxonMobil Will Concentrate South American Growth Ambitions in Brazil and Guyana

ExxonMobil plans in January to start a two-well drilling campaign in Brazil targeting pre-salt deposits using the Seadrill drillship West Saturn.

RIO DE JANEIRO, BRAZIL - ExxonMobil expects Brazil and Guyana will be key drivers for the company’s growth ambitions in the future, as the US super-major oil giant looks to concentrate the bulk of exploration and production development activities in the two South American nations, apparently leaving aside the shale deposits in Argentina.

“We have a robust exploration program ahead of us,” ExxonMobil Brazil president Carla Lacerda told a panel at the Rio Oil & Gas 2020 digital conference last week.

“We have reduced capital expenditure globally by 30%, but we remain investing in exploration to grow, and Brazil . . .

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