Oil company ExxonMobil has expanded its upstream acreage in Egypt after it acquired two offshore blocks, boosting its footprint in the gas-rich Eastern Mediterranean basin. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The acquisition includes 1.2 million acres in the North Marakia Offshore block and 543,000 acres in the North East El Amriya Offshore block, the company said Monday. Exploration operations including the acquisition of seismic data will begin in 2020, ExxonMobil said, adding it will operate both blocks, holding a 100% stake. “These awards strengthen our exploration portfolio in the Eastern Mediterranean,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. The award marks Exxon’s second upstream assets acquisition in the North African producer after picking up blocks in a major latest licensing round […]