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ExxonMobil adds 2.7B barrels oil equivalent to reserves; replaces 183% of 2017 production

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billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of production. billion oil-equivalent barrels at year-end 2017. During 2017, proved additions at Upper Zakum in Abu Dhabi totaled more than 800 million barrels of crude oil. Exxon Mobil Corporation added 2.7 Resource Base.

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PetroSA in talks with Mozambique for GTL plant; 70% diesel output

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South African state-owned oil company PetroSA is in talks with Mozambique to develop a 40,000 barrels-per-day gas-to-liquids (GTL) plant there. Gareth Shaw, PetroSA’s business development manager for GTL, said his company was proposing the building the plant at a cost of around $4 billion.

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Pancontinental says first oil discovered offshore Kenya

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Australia-based Pancontinental Oil and Gas NL says it has verified that its recently completed Sunbird-1 well off the southern Kenyan coast has intersected an oil column—the first such discovered off the East African coast. The gross oil column is assessed to be 14m thick beneath a gross gas column of 29.6m Location map.

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ExxonMobil evaluating significant near-term capital and operating expense reductions; COVID-19

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The company is closely monitoring the COVID-19 pandemic and has adjusted work arrangements to ensure a healthy work environment and support communities where it operates. For 2020, the company anticipated an investment level of up to $33 billion, depending on the progress of individual projects. million net acres.

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ExxonMobil seeking to boost growth, continue work on lower-emissions technologies including biofuels and carbon capture

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ExxonMobil expects to increase annual earnings potential by more than 140% and double potential annual cash flow from operations by 2025 from 2017 adjusted earnings, assuming a 2017 oil price of $60 per barrel adjusted for inflation and based on 2017 margins. In Brazil, the company has acquired 2.3 —Darren Woods.

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Benthic sets new water depth drilling record of 2,776 meters

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Benthic, a global geosciences company, broke its own water depth record using the Portable Remotely Operated Drill unit 3 (PROD3) seabed drill. miles) was set on a Statoil project in Tanzania, and was beaten with two deployments to 2,776 meters (9,108 feet) a few weeks later on the Anadarko project off the coast of Mozambique.

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Chevron to acquire Anadarko in $33B deal; shale and tight, deepwater, LNG

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Furthermore, Western Midstream Partners, LP is a successful midstream company whose assets are well aligned with the combined companies’ upstream positions, which should further enhance their economics and execution capabilities. LNG – Chevron will gain another world-class resource base in Mozambique to support growing LNG demand.

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