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Exxon Mobil and its partner Qatar Petroleum have won new leases to 71,500 acres of offshore drilling area in Brazil.Exxon Mobil and its partner Qatar Petroleum have won new leases to 71,500 acres of offshore drilling area in Brazil.Photo: Mark J. Terrill /Associated Press
Photo: Mark J. Terrill /Associated Press
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Exxon Mobil and its partner Qatar Petroleum have won new leases to 71,500 acres of offshore drilling area in Brazil.
Exxon Mobil and its partner Qatar Petroleum have won new leases to 71,500 acres of offshore drilling area in Brazil.
Photo: Mark J. Terrill /Associated Press Texas' Exxon Mobil wins more offshore acreage in Brazil
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Irving-based Exxon Mobil has won tens of thousands of more acres in the latest round of bidding for Brazil's offshore oil and gas reserves.
The oil and gas giant added nearly 72,000 acres to its deepwater portfolio in Brazil, winning the Titã exploration block along with its partner Qatar Petroleum.
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Exxon will have a 64 percent interest in the block, with Qatar Petroleum, which is owned by the state of Qatar in the Middle East, holding the other 36 percent. Exxon will be the operator, and plans to conduct exploratory drilling by 2020.
Exxon's total position in Brazil is now at 2.3 million net acres, the company said.