Any insights into the future of Exploration beyond Guyana?
I am hearing we’re starting to have some difficulty finding additional resources…. current leaders are too scared to do real/risky exploration outside the Guyana golden lane.
How many more years does exploration have given Energy transition timeline?
Any future for a young Geoscientist?
As a worker from another large OG company, I would say that geoscience isn’t appreciated in the oil business anymore. We all just need big data analytics lol.
India. - just look look at the babbling posts this weekend by Justin.
Trying to polish the tu-d of outsourcing.
The future of geoscience is in India.
We have a winner... @2yus+1jdGtmri figured it out.
XOM does not need a geoscience team; Chevron's reserves will refill it upon merger.
DW always thought XOM geoscience was underperforming, the elimination of them just validates XOM's "core competency"... NOT geoscience.
Growing EM’s reserves with least risk would be through acquisition.
Maybe that is why EM has been building up its cash.
I hear any new resources we acquire are going strictly to Guyana. I tried using the supercomputer for some high compute project two months ago and was told Guyana was its primary use case
EM has always been behind competitors in exploration, despite having historically been overstaffed in (very good) geoscientists relative to other companies.
Guyana success is an anomaly that probably won’t be repeated. We tried in Uruguay and in Brazil. We were so bad in the GOM we completely abandoned it. Now looking to Angola.
@OP there will be a future for exploration, but it won’t be with EM. Probably not with Shell or the other IOCs either given their ESG constraints. It’ll be with smaller, riskier E&P’s and/or a NOC. Not great for our salaries and career stability.
Company is gutting the technical side and just turning into a company that finances projects with all the work of finding, developing, and operating outsourced. Just look at how Guyana is being developed.
The utter lack of appreciation for technical expertise demonstrated by this current regime is mind boggling. Durwood's dismantling of the corporation will be reviewed as a case study in bad management when Exxon's current cash cows stop flowing cash.
From my perspective EM effectively dismantled it's exploration company in 2020/21. People say Guyana discoveries were all luck, but the truth is some decent technical folks pushed back against our management to get Liza 1 drilled and there was a good team working Stabroek from 2014 to 2019. A lot of those people are gone now - either quit, PIPed, sidelined, or retired. We still have some people working exploration, but the org is anemic at this point and under resourced.
Doesn't seem like geos have a real future at EM - just another function getting outsourced at low cost. I suppose EM will be buying into whatever future resources it plans to develop.