ExxonMobil Acquires Exploration Acreage Offshore Ghana

IRVING, Texas–(BUSINESS WIRE)–ExxonMobil
today announced that it has signed a petroleum agreement with the
government of Ghana to acquire exploration and production rights for the
Deepwater Cape Three Points block. The agreement is subject to
parliamentary ratification.

Exploration activities, including acquisition of seismic data and
analysis, are expected to commence later in 2018. The Deepwater Cape
Three Points block, located 57 miles (92 kilometers) off the coast of
Ghana, measures approximately 366,000 acres (1,482 square kilometers) in
water depths ranging from 5,085 feet to 9,350 feet (1,550 meters to
2,850 meters).

“The addition of this block reaffirms ExxonMobil’s commitment to
pursuing high-quality projects in areas with large resource potential,”
said Steve Greenlee, president of ExxonMobil Exploration Company. “We
are excited to partner with the government of Ghana as we employ our
significant upstream experience and technological expertise in assessing
the exploration opportunities in this block.”

ExxonMobil will carry out the work program as operator, and holds 80
percent interest. Ghana National Petroleum Corporation holds 15 percent
interest. ExxonMobil will work with the government to identify a
Ghanaian company to potentially hold up to 5 percent interest.

About ExxonMobil

ExxonMobil, the largest publicly traded international energy company,
uses technology and innovation to help meet the world’s growing energy
needs. ExxonMobil holds an industry-leading inventory of resources, is
one of the largest refiners and marketers of petroleum products, and its
chemical company is one of the largest in the world. For more
information, visit www.exxonmobil.com
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Cautionary Statement: Statements of future
events or conditions in this release are forward-looking statements.
Actual future results, including project plans and schedules and
resource recoveries could differ materially due to changes in market
conditions affecting the oil and gas industry or long-term oil and gas
price levels; political or regulatory developments; reservoir
performance; the outcome of future exploration and development efforts;
technical or operating factors; the outcome of future commercial
negotiations; and other factors discussed under the heading “Factors
Affecting Future Results” available through the Investors page of our
website at exxonmobil.com.

Contacts

ExxonMobil
Media Relations, 972-940-6007