ExxonMobil

International Oil Company

United States • XOM

Website

Active Blocks

Discoveries

Reserves (Est.)

7.2-8.7

tcf

Type

International Oil Company

About

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.

Deep Dive

ExxonMobil & Glaucus

Block 5 and Block 10 exploration outlook

Active Blocks

Gas Discoveries

Pegasus

Discovered 2025 • Operator

7-9 (with Glaucus)

tcf

Glaucus

Discovered 2019 • Operator

7-9 (with Pegasus)

tcf

Partner Companies

Qatar Energy

Qatar

2 blocks

ExxonMobil in the News

OilPrice • Jul 7

Big Oil's Windfall Earnings Threaten to Reignite Trump's Price-Gouging Push

Chevron and Exxon are expected to report their best quarter since 2022 this month, as the war that the United States and Israel started against Iran on February 28 drove much tighter oil and gas supply. This could be a problem for President Trump who has already slammed Big Oil for keeping prices at

OilPrice • Jul 6

Big Oil Heads for Record Profits as Trump Turns Up the Heat on Gas Prices

The oil majors are set for windfall earnings for the second quarter, which saw crude oil prices jump to a four-year high due to the closure of the Strait of Hormuz. The earnings at both ExxonMobil and Chevron are expected to have tripled in the April to June quarter compared to the first quarter, as

OilPrice.com • Jul 6

Shell And ExxonMobil Are Betting Billions On Nigeria's Deepwater Comeback

Nigeria is trying to rebuild its energy industry from the ground up, not only trying to recover lost crude production, but working to turn itself into Africa’s dominant refining, gas, capital markets and energy export hub. The clearest test is the Dangote Refinery. The 650,000-barrel-per-day plan...

Cyprus Mail • Jul 5

ExxonMobil’s East Med strategy enters a new phase

The Commerciality Declaration for Cyprus’ Glaucus and Pegasus gas discoveries made this week marks an important milestone – not only for the island, but also for ExxonMobil’s wider Eastern Mediterranean strategy. After almost eight years of exploration, the company has formally moved from proving...

Cyprus Mail • Jul 5

Our View: Time for government to put politics aside and ensure energy supply

Top executives of ExxonMobil and QatarEnergy were at the presidential palace on Tuesday for the signing of a joint declaration with the government that gave the status of ‘marketable’ to two gas fields in Cyprus’ EEZ. Although this does not mean the gas fields would ever be developed, President N...

In-Cyprus • Jul 3

The landscape is changing in Cyprus’ exclusive economic zone

The Republic of Cyprus, ExxonMobil and QatarEnergy recently signed a tradability statement for the Glaucus and Pegasus gas fields. This marks a significant step forward in Cyprus’ energy programme. It is clear evidence — a vote of confidence — in the prospects of Cyprus’ exclusive economic zone, ...

Offshore Energy • Jul 3

ExxonMobil passes the baton for Australian oil & gas asset to Woodside

Australia’s oil and gas giant Woodside Energy has taken over the operator helm from the Australian subsidiary of U.S.-headquartered energy major ExxonMobil for assets situated off Victoria’s Gippsland coast. The post ExxonMobil passes the baton for Australian oil & gas asset to Woodside appeared fir

Rigzone • Jul 3

Woodside Assumes Operatorship of Aussie Gas Assets from ExxonMobil

The partners continue to each own 50 percent in the Gippsland Basin Joint Venture, which supplies about 40 percent of gas needs on Australia's east coast, and 32.5 percent in the Kipper Unit JV, Woodside said.

Rigzone • Jul 3

ExxonMobil, QatarEnergy Affirm Commerciality of Cyprus Discoveries

QatarEnergy and ExxonMobil signed a 'commercial discovery declaration' with the Cypriot government for two discoveries in Block 10 in the Mediterranean Sea.

Cyprus Mail • Jul 1

Cyprus poised to make ‘continuous concessions’ by energy giants

Energy expert Dr Charles Ellinas on Wednesday warned that the Cypriot government is likely offering “continuous concessions” to multinational energy corporations so as to persuade them to drill for natural gas under the seabed off the island’s coast. He was speaking after ExxonMobil and QatarEner...

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