Exxon Mobil's Brazil exploration projects remain on track: country head

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“In Brazil, we have 28 blocks of which most of them are exploration. Although the company has gone through a capital expenditure reduction of 30% for 2020…the Brazilian projects remain on track largely because…we believe these assets will perform well,” Carla Lacerda, Exxon Mobil’s president in Brazil, said.

“Within the next 1.5 to 2 years we’ll be drilling out, between our operated and those operated by others, another 5 to 7 wells. Typically development projects take 5 years from discovery to production.”