Exploration to begin off Colombia

Exxon Mobil Corp. affiliate ExxonMobil de Colombia S.A., together with Ecopetrol, and Petrobras, have signed a participation agreement to begin exploration offshore Colombia. The agreement covers the 11-million-acre Tayrona block off Colombia's northern coast in the Caribbean Sea.

May 10th, 2004

Exxon Mobil Corp. affiliate ExxonMobil de Colombia S.A., together with Ecopetrol, and Petrobras, have signed a participation agreement to begin exploration offshore Colombia. The agreement covers the 11-million-acre Tayrona block off Colombia's northern coast in the Caribbean Sea.

Petrobras will be the operator during the exploration phase, and ExxonMobil act as operator for the development phase, in the event that gas is discovered on the block.

The companies are eager to move forward with exploration. Jon L. Thompson, president of ExxonMobil Exploration Co., said, "We look forward to quickly concluding the remaining contract negotiations with the Government of Colombia."

ExxonMobil has operated in Colombia since the early 1900s. For the past 50 years, the company has marketed and sold gasoline, fuels, and lubricants in Colombia under its Esso and Mobil brands.

05/07/04

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