WSJ: ExxonMobil spent $4 billion but found no oil off Brazilian coast
The Wall Street Journal (WSJ), citing anonymous informed sources, reports that the American oil and gas company ExxonMobil had to halt its large-scale project to develop deep-sea deposits off the coast of Brazil. The corresponding measure is believed to be due to the company’s failure to find commercially viable oil deposits.
The publication pointed out that during a major project that began in 2017, around $4 billion was spent over several rounds of exploration.
At the same time, it is noted that at the end of 2022, ExxonMobil transferred employees of the Brazilian project to Canada, Angola and Guyana. However, the company admits that in the near future in Brazil, which ranks 16th in terms of oil reserves in the world, new projects may be launched.
