Exxon Mobil to resume oil exploration in Brazil

Exxon Mobil Corp announced on Monday that it is not planning to terminate its oil exploration activities in Brazil. Alberto Ferrin, head of Exxon Mobil Brazil announced the news during the Offshore Technology Conference (OTC).

Other involved parties including the Brazilian government and regulators were also aware of Exxon’s intentions to continue its exploration activities. Several news outlets have previously reported the oil firm has ended a major oil exploration campaign in Brazil.

ExxonMobil established its operations in Brazil back in 1912, being the first oil and gas company to operate there. Brazil is one of the major areas Exxon is relaying on for its future production.