U.S. oil major Exxon Mobil Corp said on Tuesday its unit and an affiliate of Qat...
FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes/File Photo
The three blocks will add about 2.6 million net acres to Exxon’s existing holdings in Argentina, the company said. The blocks are located in the Malvinas basin, about 200 miles offshore Tierra del Fuego. Qatar Petroleum signed an agreement with Exxon Mobil in June to buy a 30 percent stake in two of Exxon’s affiliates in Argentina, giving Qatar’s state-owned entity access to oil and gas shale assets in the Latin American country.
The U.S. oil company also invested in Brazil’s prolific offshore oilfields throughout 2018, clinching numerous blocks in partnership with other companies. Exxon and Qatar Petroleum International landed Brazil’s Tita area, locking in key real estate in the prized Santos basin.
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