Exxon Mobil Plans $100M Philippines Investment
Exxon Mobil says it will invest at least $100 million in offshore oil exploration near the Philippines.
Stephen Greenlee, vice president for Exxon Mobil Exploration Co., says Exxon is evaluating seismic data from the area and could start drilling next year, he said.
The Philippines government this week announced that a consortium of mostly Philippine companies will immediately begin commercial oil production in the Galoc offshore oil field in the South China Sea.
