Exxon 2007 Annual Report Download - page 13

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It takes increasingly large and complex projects to develop new oil and natural gas resources, many of which are found
in remote and technically challenging environments. Additionally, consumers continue to demand new high-performance
premium products at competitive prices. ExxonMobil is taking on the challenge of maximizing the value of resources
and assets in order to deliver attractive returns to shareholders and resource owners while meeting the changing
demands of the market.
Our disciplined investment process focuses on selecting development concepts that are right for each opportunity – concepts
that ensure we are using ExxonMobil’s vast global expertise to develop oil and natural gas opportunities to their fullest potential.
ExxonMobil develops and deploys technologies and operating best practices that improve resource recovery and reduce
development costs. In the Upstream, we are able to drill complex wells at lower costs using our unique tools and processes.
We have extensive research capabilities that allow us to create unique solutions tailored to individual opportunities.
Our Downstream business delivers ongoing process improvements that increase supply flexibility, grow capacity, and
improve product yields. Using our Molecule Management technology, our refineries are able to process more challenged
raw materials, increase production by maximizing utilization of existing capacity, and optimize value through improved yields
of higher-value products.
More than 90 percent of the chemical capacity that we own and operate is integrated with our large refining complexes
or natural gas processing plants. These integrated sites are designed and operated to maximize the value of each product
stream and to achieve cost savings from economies of scale.
Effective and efficient use of our resources is the key to delivering long-term profitability and growth in shareholder value.
ExxonMobil’s disciplined investment approach, operational excellence, and proprietary technologies make us uniquely
positioned to maximize resource and asset value throughout our operations.
Maximizing Resource and Asset Value
150
140
130
120
110
100
90
ExxonMobil Raw Material Flexibility
(indexed)
Challenged Crudes
2003 2004 2005 2006 2007
(Graph) Our proprietary modeling and processing technologies
have allowed us to increase throughput of difficult-to-process
“challenged” crudes that are typically discounted in the
marketplace. The increased feed flexibility allows us to lower
our raw material costs.
(Photo) Mondo, the first field in the Kizomba C development in
Angola, started up in January 2008. The Kizomba C development
includes two floating production, storage, and offloading vessels and
36 subsea wells, making it ExxonMobil’s largest subsea development.
Using our proven project management system and our “Design One,
Build Multiple” strategy, first oil was achieved less than two years
after project approval.
E X X O N M O B I L C O R P O R A T I O N • 2 0 0 7 S U M M A R Y A N N U A L R E P O R T 11