ExxonMobil
International Oil CompanyAbout
One of the world's largest publicly traded oil and gas companies. Operator (60%) of Block 10 with QatarEnergy, home to the Glaucus (2019) and Pegasus (2025) discoveries — an estimated 7–9 tcf declared a commercial discovery in June 2026. Also holds Block 5, where the Elektra-1 well found non-commercial gas in 2025.
Frequently Asked Questions
What has ExxonMobil discovered in Cyprus?
ExxonMobil, with partner QatarEnergy, made two gas discoveries in Block 10 of the Cyprus EEZ: Glaucus (2019) and Pegasus (March 2025), together estimated at 7–9 tcf — the largest resource concentration in Cypriot waters. A Declaration of Commercial Discovery was signed on 30 June 2026, with appraisal drilling from late 2026 and production targeted near 2033.
Active Blocks
Gas Discoveries
Partner Companies
ExxonMobil in the News
Christodoulides calls for ‘development’ of Cyprus’ natural gas ‘as soon as possible’
President Nikos Christodoulides called for the “development” of the natural gas located under the seabed off the coast of Cyprus “as soon as possible” when he met American multinational oil corporation ExxonMobil’s vice president for global exploration John Ardill on the sidelines of the United N...
Wood secures $200m contract from ExxonMobil for PNG LNG project
Wood has secured a $200m contract from ExxonMobil PNG to deliver construction services for the PNG LNG Project in Papua New Guinea (PNG).
Global Fuel Squeeze Triggers U.S. Refiners Stocks Rally
Energy stocks have rallied this year as oil prices soared amid the Middle East conflict. The U.S. supermajors ExxonMobil and Chevron have seen their stocks gain about 40% each so far in 2026, but U.S. refiner stocks have outperformed the majors because the global fuel market is much tighter than ...
Saipem Signs New Preliminary Contract for Rovuma LNG
A consortium of Belgium's Jan De Nul and Italy's Saipem signed a letter of intent with ExxonMobil for the upstream infrastructure of the planned Rovuma LNG project in Mozambique.
TotalEnergies to transfer Papua LNG operatorship to ExxonMobil
TotalEnergies has agreed to transfer operatorship of the Papua LNG project in PNG to ExxonMobil PNG Antelope, as part of a set of contractual and commercial agreements ahead of a FID on the development.
ExxonMobil to Acquire Papua LNG Operatorship from TotalEnergies
TotalEnergies said the transfer, which also involves a farm-down by the French majority owner, will help bring the project closer to a final investment decision.
Santos expands Oceania LNG exposure as ExxonMobil takes the reins
Australian energy company Santos has taken steps to boost its stake in a liquefied natural gas (LNG) project in Papua New Guinea, Oceania. The post Santos expands Oceania LNG exposure as ExxonMobil takes the reins appeared first on Offshore Energy.
Trump Complained About Big Oil Profits, But Dumped Exxon Stock on Ceasefire Day
President Donald Trump’s investment accounts sold between $500,000 and $1 million of ExxonMobil stock on April 7, the same day Trump announced a ceasefire in the Iran war and hours before Exxon shares opened 6.5% lower, according to financial disclosures reviewed by CBS News. Exxon closed at $163.91
Exxon Eyes Shell’s $8 Billion U.S. Chemicals Business
Exxon is in the running for Shell’s U.S. chemicals business that could fetch $8 billion, the Financial Times reported today, citing unnamed sources familiar with developments. The U.S. supermajor is competing with LyondellBasell, Apollo Global Management, and the Kuwait Petroleum Corporation, the un
ExxonMobil Warns of Looming Decline at Kazakhstan's Top Oilfield
The Spring, Texas-based supermajor is seeking to invest billions of dollars in a new oil project at the nation's Kashagan development, a step that would help to cushion a slide in production at Tengiz, its top deposit.
Company Details
- Full Name
- ExxonMobil
- Ticker
- XOM
- Country
- United States
- Type
- International Oil Company
- Blocks
- 2
- Discoveries
- 2
Key Events
Cyprus, ExxonMobil and QatarEnergy sign a Declaration of Commercial Discovery for the Glaucus and Pegasus fields (Block...
infrastructureExxonMobil and QatarEnergy announce the Pegasus-1 discovery in Block 10, drilled by the Valaris DS-9. Together with the...
discoveryExxonMobil and QatarEnergy's Elektra-1 well in Block 5 finds natural gas in non-commercial quantities but confirms a wor...
discovery