US supermajor ExxonMobil’s overseas strategy of recent years could be described as ‘go big or go home’: investing heavily in ambitious plans for the deepwater off Guyana and Brazil whilst disposing of more modest assets elsewhere (MEES, 9 December 2022).
As such, Exxon’s snagging of two large deepwater blocks on the Egyptian side of the maritime border with Cyprus which adjoin its existing Cyprus and Egypt acreage, suggests that the US major sees the East Med deepwater as potentially a major new gas-focused production region. (CONTINUED - 1339 WORDS)
