According to The Wall Street Journal (WSJ), citing unnamed knowledgeable sources, the US oil and gas corporation ExxonMobil is forced to curtail its major project to develop deep-water fields off the coast of Brazil. This was due to the company’s failure to find commercially viable oil deposits.
It is reported that during the large-scale project, which began in 2017, regarding $ 4 billion was spent on several rounds of geological exploration. However, at the end of last year, the company transferred employees of this project to other countries: Canada, Angola and Guyana. However, the company does not rule out that in the near future it may start new projects in Brazil, which ranks 16th in the world in terms of oil reserves.