World Oil and Gas Council Names ExxonMobil 2018 Large Cap Company of the Year and Explorer of the Year
20 Décembre 2018 - 8:00PM
Business Wire
- Recognizes ExxonMobil’s
industry-leading portfolio and investments
- Achievements in the year contributing
to aggressive growth plans
- ExxonMobil portfolio best in two
decades, strengthened through acquisitions and other
activities
ExxonMobil said today that it has been named 2018 Large Cap
Company of the Year and Explorer of the Year by the World Oil and
Gas Council in recognition of excellence and innovation in the
global energy industry.
Brad Corson, president of ExxonMobil Upstream Ventures, accepted
the award for Large Cap Company of the Year. Corson said, “We are
honored to be recognized as an industry leader and are confident
that the growth strategy we are currently implementing will drive
long-term shareholder value and industry-leading returns. This
award is a reflection of the dedication of our employees and their
daily commitment to excellence.”
During the year, ExxonMobil announced a number of discoveries,
acquisitions and other activities around the world. The company’s
industry-leading portfolio underpins aggressive growth plans. These
opportunities span all of the corporation’s business lines and
represent the most attractive investment portfolio since the Exxon
and Mobil merger.
ExxonMobil was also the recipient of the Explorer of the Year
award for the second year in a row.
“We appreciate the Council’s recognition of our efforts to add
the highest quality resources to our development portfolio as well
as continuing to build on our leading acreage position,” said Steve
Greenlee, president of ExxonMobil Exploration Company.
“Particularly encouraging this year was our drilling success in
Guyana as well as capture of a large number of quality drilling
opportunities in Brazil.”
Important activities during the year include:
Upstream
- Building quickly on its acquisition of
companies owned by the Bass family of Fort Worth, the company has
significantly accelerated operations and now has 42 rigs operating
in the Permian Basin, more than any other in the industry and has
announced plans to triple production by 2025. Even with this rapid
expansion, the company announced targets to reduce flaring and
methane emissions.
- Only months after ExxonMobil’s entry
into Mozambique’s offshore Area 4 block, Mozambique Rovuma Venture
submitted the development plan for the first phase of the Rovuma
LNG project, which will produce, liquefy and market natural gas
from the Mamba fields.
- In Brazil, the company completed the
purchase of interest in the BM-S-8 block offshore Brazil, which
contains part of the more than 2-billion-barrel, pre-salt Carcara
oil field. In addition, ExxonMobil expanded its deepwater portfolio
in the country to approximately 2.3 million net acres.
- Five discoveries were announced in
Guyana in 2018 – Ranger-1, Pacora-1, Longtail-1, Hammerhead-1 and
Pluma-1 – where the company has discovered more than 5 billion
oil-equivalent barrels of recoverable resource through 10
discoveries since 2015.
Downstream
- In October, the company started
operations of a new unit at its Antwerp refinery in Belgium to
convert heavy, higher-sulfur residual oils into high-value
transportation fuels.
- ExxonMobil announced the startup of a
new unit at its Beaumont, Texas, refinery to increase production of
ultra-low sulfur fuels.
- ExxonMobil opened the first
Mobil-branded service stations in Mexico, and acquired one of
Indonesia’s largest manufacturers and marketers of motorcycle
lubricants.
Chemical
- ExxonMobil started operations at its
new ethane cracker in Baytown, Texas as well as at its integrated
manufacturing complex in Singapore where it produces butyl and
resins.
- The company also officially formed its
Gulf Coast Growth Ventures JV with SABIC and commenced work on the
project for a 1.8-million-ton ethane cracker currently planned for
construction in San Patricio County, Texas.
About ExxonMobil
ExxonMobil, the largest publicly traded international energy
company, uses technology and innovation to help meet the world’s
growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is one of the largest refiners and
marketers of petroleum products, and its chemical company is one of
the largest in the world. For more information, visit
www.exxonmobil.com or follow us on Twitter
www.twitter.com/exxonmobil.
Cautionary Statement: Statements of
future events or conditions in this release are forward-looking
statements. Actual future results, including project plans,
capacities and outcomes; company growth plans and future
shareholder returns; production volume growth; and flaring and
methane emission reductions could differ materially due to changes
in market conditions affecting the oil and gas industry or
long-term oil and gas price levels; political or regulatory
developments, including changes in environmental or tax laws and
obtaining necessary government approvals; reservoir performance;
the outcome of future exploration and development efforts;
technical or operating factors; the outcome of future commercial
negotiations; the actions of competitors; and other factors
discussed in the referenced announcements and under the heading
“Factors Affecting Future Results” on the Investors page of our
website at exxonmobil.com. References to resources, recoverable
resources, oil equivalent barrels, and similar terms in this
release include quantities that are not yet classified as proved
reserves under SEC definitions but that are expected ultimately to
be produced and moved into the proved reserve category.
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