Exxon Mobil Corp will start drilling its first exploratory well off the coast of Liberia in November, the world’s largest publicly-traded oil company said on Tuesday, Reuters has reported.
“ExxonMobil Exploration and Production Liberia Limited, an affiliate of ExxonMobil, plans to drill a deepwater exploration well on the Liberia-13 Block, located about 50 miles offshore of the country, beginning in November,” a spokeswoman said.
The Canadian Overseas Petroleum (COPL), junior partner in ExxonMobil’s Block LB-13 offshore Liberia, had earlier announced that it would continue exploring the oil block for 18 months.
“On February 23, ExxonMobil informed the company that the length of the extension period granted by the National Oil Company of Liberia (NOCAL) has been set at a total of 619 days and that the second exploration period timeframe has been extended until September 25, 2017,” said COPL on its website in her annual results on March 29. The extension was granted because of the Ebola crisis in Liberia during 2014.
ExxonMobil said in November it planned to drill this first exploration well later this year or early 2017, however it is too soon to tell if any finds will be oil or gas. Both have been found off La Cote d’Ivoire and Ghana to the east. Recently, Exxon cited Cote d’Ivoire’s exploration ‘risk but higher potential.’
Toronto and London-listed COPL added that the well, Mesurado-1, is “planned to spud no earlier than Q4 ( fourth quarter of 2016)” and that “exact timing of the well will be dependent on rig availability and when ExxonMobil can confirm third party contractors’ capability to operate in the country.”