|  By Anayo Ezugwu  |  May 29, 2017 @ 01:00 GMT  |

EXXONMOBIL has announced its plans to enter the Mexican fuels market in 2017 with Mobil-branded stations and its new signature line of advanced Synergy gasoline and diesel fuels. The company plans to open its first Mobil service station in Central Mexico during the second half of 2017, and additional stations will open later in the year.

ExxonMobil plans to invest about $300 million in fuels logistics, product inventories and marketing over the next 10 years to provide a reliable supply of quality products to the retail, wholesale, industrial and commercial sectors.

Martin Proske, Mexico fuels director for ExxonMobil Fuels, Lubricants and Specialties Marketing Company, said, “Recent energy reforms present a unique opportunity to help meet the growing demand for reliable fuel supplies and quality service in Mexico. ExxonMobil’s presence will help give consumers new choices to purchase our high-quality products.”

ExxonMobil’s Synergy product line includes the company’s most advanced gasoline formula that increases engine-cleaning power, which helps to improve engine performance, responsiveness and fuel economy compared to gasoline meeting minimum government standards. The fuels will be marketed as Mobil Synergy Extra, Mobil Synergy Supreme+ and Mobil Synergy Diesel in Mexico.

“Our new Synergy line of fuels, coupled with modern equipment and station image, is part of our continued effort to deliver innovation at our branded stations. We are always looking for ways to enhance our customers’ experiences and overall satisfaction with our products and services,” said Proske.

To maintain its high standards for customer service, ExxonMobil will implement its Guaranteed Fuels programme, which consists of periodic visits by the company’s travelling laboratories to each Mobil-branded service station to analyse the quality of the fuel and ensure fuel dispensers are secure and operating correctly.

ExxonMobil has maintained a presence in Mexico for more than 130 years with other businesses and sales in the country, including chemicals and Mobil-branded lubricants, as well as interest in oil and gas exploration, where the company anticipates continued growth. Worldwide, ExxonMobil is one of the market leaders in the fuels sector with more than 26,000 branded service stations in more than 35 countries.

Meanwhile, ExxonMobil Corporation has announced positive results on the Muruk-1 sidetrack well in the Papua New Guinea North Highlands, 13 miles (21 kilometers) northwest of the Hides gas field. The Muruk-1 sidetrack well encountered high-quality sandstone reservoirs southwest of the Muruk-1 natural gas discovery announced in late 2016. The sidetrack well was safely drilled to 13,550 feet (4,130 meters).

Steve Greenlee, president, ExxonMobil Exploration Company, said, “This important discovery confirms the extent of the Muruk area and further establishes Muruk as a potentially significant new discovery with the same high-quality sandstone reservoirs as the Hides field that underpins the PNG LNG project.”

ExxonMobil has a long and successful history of exploring, developing and commercialising assets in PNG. “The diversity of our onshore and offshore portfolio demonstrates the strength of ExxonMobil’s long-term investment approach and the opportunities that exist to grow our business in Papua New Guinea,” said Greenlee.

Oil Search began drilling the Muruk-1 well on November 2, 2016. Petroleum prospecting license 402 covers 126,000 acres (510 square kilometers) in the Papua New Guinea Highlands. Interest owners are ExxonMobil (42.5 percent), Oil Search Limited (37.5 percent) and Barracuda Limited, a subsidiary of Santos Limited (20 percent, subject to regulatory approval), with Oil Search as operator.