- BUSINESS EXPANSION – Commended
- ENVIRONMENTAL – Commended
Offshore Technology Excellence Rankings 2022 – The Verdict
ExxonMobil is an American multinational oil and gas corporation that is ranked for Business Expansion and Environmental in the 2022 Offshore Technology Excellence Rankings.
The company has been working on discovery projects in offshore Guyana, at the Uaru-2 well located on the Stabroek Block, the Longtail-3 well in the Stabroek Block, and the Fangtooth-1 and Lau Lau-1 wells. The company also signed a deal with another company for an exploration and production sharing contract (EPSC) for offshore block five in Cyprus. The company also commenced gas production from the West Barracouta project in the Bass Strait offshore Victoria.
ExxonMobil also proposed a new public-private carbon capture and storage (CCS) project
Elsewhere ExxonMobil along with its partners signed an agreement with the Papua New Guinea government for the development of the P’nyang LNG project. The P’nyang project will deliver the liquefied natural gas (LNG) through new upstream facilities connected to the existing infrastructure.
The company also developed the Front End Engineering and Design (FEED) on its floating production storage and offloading (FPSO) vessel – in a project that will mark the largest unit that the other company has ever built.
In relation to projects linked to environmental impact ExxonMobil also proposed a new public-private carbon capture and storage (CCS) project, which would require an investment of more than $100bn. The project would collect carbon dioxide emitted by industrial facilities, including oil refineries and petrochemical plants, located along the Houston Ship Channel in the US. The company has also partnered with another company to produce renewable fuels at their existing refineries in the US without undertaking costly upgrades and joined other companies in launching a new roadmap providing guidance for oil and gas companies on how to achieve a low-emissions future while aligning with the 2030 Agenda for Sustainable Development.
ExxonMobil is an integrated oil and gas company that discovers, explores for, develops and produces crude oil, natural gas and natural gas liquids.
It carries out the refining of crude oil; produces, transports, trades and sells petroleum products; and manufactures lube basestocks and finished lubricants. The company also manufactures and markets commodity petrochemicals including olefins, aromatics, polyethylene and polypropylene plastics and a wide variety of specialty products.
It operates through a network of manufacturing plants, transportation systems, and distribution centers.
The company has operational presence in North America, Latin America, Asia Pacific, Europe, the Middle East and Africa. ExxonMobil is headquartered in Irving, Texas, the US.