XOM Signs MoU With Gabon to Explore Offshore Oil and Gas Prospects

Group 1: Exxon Mobil's MoU with Gabon - Exxon Mobil Corporation has signed a memorandum of understanding (MoU) with the Gabonese government to explore deepwater and ultra-deepwater areas for potential oil and gas reserves [1][9] - This MoU indicates ExxonMobil's increasing presence in Africa, where it already operates in countries such as Nigeria, Mozambique, and Angola [2] - The agreement may signal ExxonMobil's return to Gabon, which is currently facing declining crude production levels, having decreased from a peak of 370,000 barrels per day in 1997 to 240,000 barrels per day in August 2025 [3][9] Group 2: Context of Gabon's Oil Production - Gabon's government is actively seeking to reverse the trend of declining production levels, and the MoU with ExxonMobil could aid in discovering new resources to support these goals [3] - The last significant activity by ExxonMobil in Gabon was a hydrocarbon discovery made in collaboration with Chevron Corporation in 2006, but currently, the company does not hold any exploratory acreage in the country [2] Group 3: Upcoming Financial Results - ExxonMobil is scheduled to release its third-quarter results on October 31, 2025, before market open [4]