February 8, 2018 / 2:24 PM / 2 months ago

BRIEF-Exxonmobil Adds 2.7 Billion Barrels To Reserves, Replaces 183 Pct Of 2017 Production

Feb 8 (Reuters) - Exxonmobil:

* ADDS 2.7 BILLION BARRELS TO RESERVES; REPLACES 183 PERCENT OF 2017 PRODUCTION

* EXXONMOBIL’S RESERVES LIFE AT CURRENT PRODUCTION RATES IS 14 YEARS

* ‍DURING 2017, PROVED ADDITIONS AT UPPER ZAKUM IN ABU DHABI TOTALED MORE THAN 800 MILLION BARRELS OF CRUDE OIL​

* PROVED RESERVES TOTALED 21.2 BILLION OIL-EQUIVALENT BARRELS AT YEAR-END 2017

* ADDED 9.8 BILLION OIL-EQUIVALENT BARRELS TO RESOURCE BASE IN 2017 THROUGH BY-THE-BIT EXPLORATION DISCOVERIES AND STRATEGIC ACQUISITIONS

* ‍ADDITIONS IN PERMIAN ARE SUPPORTED BY CO’S GROWTH PLAN, SEEN TO INCREASE DAILY PRODUCTION TO OVER 600,000 OIL-EQUIVALENT BARRELS BY 2025​

* ‍ADDITIONAL EXPLORATION DRILLING IN GUYANA IS PLANNED IN 2018 ON 11.5 MILLION GROSS ACRES CURRENTLY HELD OFFSHORE​

* ‍PRODUCTION FROM LIZA PHASE 1 IS EXPECTED TO BEGIN BY 2020​ Source text for Eikon: Further company coverage:

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