28/04/2023 by Katie
According to Rigzone, a spokesperson from ExxonMobil has confirmed that the firm will be withdrawing from Block VMM37 in Colombia.
The spokesperson said the Agencia Nacional de Hidrocarbons, which manages the oil and gas resources of Columbia, had been notified of its intention to exercise its right to pull out of the combined operating agreement that it has with Patriot Energy. The next step will be to explore how ExxonMobil’s operatorship and interest in the block can be reassigned, given that government approval will be needed.
Block VMM37 is located in the Middle Magdalena Valley of Colombia, which has been producing oil since the La Cira-Infantas field complex was discovered in 1918. Since then, the basin has produced around two billion oil barrels. The parent company of Patriot Energy believes that the block may have significant potential for accessing unconventional resources.
ExxonMobil states on its website that it has over a century’s history of doing business in Colombia. It also says:
“We have a variety of exploration activities under way through our affiliate ExxonMobil Exploration Colombia Ltd., with our headquarters in Bogotá. We participle in the fuels and lubricants markets with the Esso and Mobil brands and have imported and sold industrial chemicals for several years.”
The Mobil lubricant range is of course among the numerous offerings that we stock and supply here at TrAchem. Contact our expert team if you’re looking to procure products like the Mobil Rarus series of air compressor oil or the Mobil Polyrex greases.
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