U.S. oil company Exxon Mobil Corp. (XOM) confirmed late Monday that it is drilling exploration wells to study the unconventional gas potential in the German states of Lower Saxony and North Rhine Westphalia.
U.S.
oil
company Exxon Mobil Corp. (XOM) confirmed late Monday that it is drilling
exploration wells to study the unconventional gas potential in the German
states of
Lower Saxony
and North Rhine Westphalia.
A company spokesperson in the
U.S.
,
however, said Exxon doesn't provide details on the financial investments of its
exploration programs.
The company's statement came after the chairman of Exxon Mobil Central Europe,
Gernot Kalkoffen, was quoted as saying in the Handelsblatt newspaper earlier
Monday that the company is planning to invest hundreds of millions of euros in
Germany
during the exploration phase.
Exxon says it believes the region could hold huge amounts of gas to drill,
Handelsblatt said.
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