ExxonMobil has won the Titã exploration block with coventurer Qatar Petroleum during Brazil’s fifth presalt bid round. The block adds more than 71,500 net acres to the ExxonMobil portfolio, expanding the company’s total position in the country to approximately 2.3 million net acres. Equity interest in the block will be 64% for ExxonMobil and 36% for Qatar Petroleum. ExxonMobil will be the operator. Through the remainder of 2018 and into 2019, ExxonMobil will continue to obtain 3D seismic coverage and will continue to advance work on regulatory requirements for exploration drilling by 2020. ExxonMobil subsidiary ExxonMobil Exploração Brasil has interests in a total of 26 blocks offshore Brazil and is operator of 66% of its net acreage.
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