Emmanuel Addeh in Abuja ExxonMobil will continue the search for big new oil and gas fields that can help fund alternative energy sources such as LNG and renewables, even as the
ExxonMobil will continue the search for big new oil and gas fields that can help fund alternative energy sources such as LNG and renewables, even as the threshold for committing exploration spending gets ‘ever higher,’ the US supermajor upstream exploration chief, John Ardil, has said in an interview.
“A lot of thought goes into an upstream investment because these things last for decades. Are they the right molecules in the right place with the right carbon intensity and if those questions are all yes, then they’ll find a path to development. Not, in many cases, very quickly. If there are question marks around those… it’s going to be a harder path,” he said.
The oil major produced 437,100 bpd on the continent in 2022, including from Nigeria, Angola and Equatorial Guinea, according to data from S&P Global Commodity Insights.
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