ExxonMobil to start up more than 20 projects through 2009

ExxonMobil Corp. plans to start up more than 20 new global projects through 2009, said the company's chairman and chief executive officer Rex Tillerson. At peak production, these projects are expected to add 1 million boe/d to the supermajor's volumes.

By OGJ editors
HOUSTON, Mar. 8 -- ExxonMobil Corp. plans to start up more than 20 new global projects through 2009, said the company's chairman and chief executive officer Rex Tillerson. At peak production, these projects are expected to add 1 million boe/d to the supermajor's volumes.

The project inventory at yearend 2006 is expected to develop 24 billion boe net to ExxonMobil, Tillerson told analysts at the New York Stock Exchange on Mar. 7.

His 100-page presentation included maps showing 7 major project start-ups for 2006, 14 for 2007, 32 for 2008-09, and 63 for 2010 and beyond.

An ExxonMobil list naming the 20-plus projects to which Tillerson specifically referred was unavailable at presstime. Last year, OGJ listed ExxonMobil as operator of 27 major projects in an article on upstream megaprojects (OGJ, June 12, 2006, p. 41).

"Market and geopolitical forces continue to shape the environment in which we operate," said Tillerson. "We continue to prudently invest more in technology than our competitors. In 2006 we spent more than $700 million and have invested more than $3 billion since 2002."

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