Exxon 2011 Annual Report Download - page 33

BUSINESS OVERVIEW
Our Upstream business includes exploration, development, production, natural gas and power marketing, and research
activities. ExxonMobil pursues a balanced global exploration program designed to test new high-potential exploration areas,
explore emerging unconventional opportunities, and add resources through ongoing activity in established areas. We have an
industry-leading resource base and a diverse portfolio of projects that span a broad range of environments, resource types,
and geographies. We continue to grow our resource base through successful by-the-bit drilling, capture of undeveloped
resources, strategic acquisitions, and increased recovery from existing fields. Our approach to investing is to advance
opportunities that are likely to provide competitive returns across a broad range of potential market conditions. We have
nine projects expected to come online during 2012 and 2013, including three in Nigeria, one in Australia, one in Canada,
one in Angola, and one in Malaysia. During this time frame, we also expect to start up the Kearl Initial Development project
in Canada and the first phase of the Kashagan development in Kazakhstan. These projects will provide us with a strong
foundation for future production growth and add to our existing world-class global portfolio of producing assets.
BUSINESS ENVIRONMENT
Oil and natural gas are expected to continue to play a
leading role in meeting the world’s growing demand for
energy. In fact, by 2040, oil and natural gas are projected
to be the world’s top two energy sources, accounting for about 60 percent of global demand, versus about 55 percent today.
Demand for oil and other liquid fuels is forecast to increase by almost 30 percent over the next 30 years. As conventional
oil production holds relatively flat through 2040, demand growth is expected to be met by new sources. The largest volume
gain is likely to come from global deepwater production, which is estimated to more than double through 2040. We also
project significant growth in production from oil sands, tight oil, and natural gas liquids. As a result of the growth in these
newer resources, we anticipate that conventional oil will account for only about 60 percent of liquid fuels supply by 2040,
down from 80 percent in 2010.
Natural gas is expected to be the fastest-growing major fuel through 2040, with demand increasing by more than 60 percent.
A rising share of global natural gas demand will likely be met by unconventional gas supplies, such as those produced from
shale and other rock formations.
Eric Whetstone • Whetstone Design
ofce: 214-583-6118 • cell:
EDITOR
Neil Hansen • Investor Relations
Exxon Mobil Corporation, Irving, TX
ofce: 972-444-1135 • cell:972-890-5469
fax: [phone]
Carol Zuber-Mallison • ZM Graphics, Inc.
studio/cell: 214-906-4162 • fax: [phone]
(c) 2012, ZM Graphics, Inc. Image can not be resold
ATTENTION: OWNER
white chart, which is then used as a
accurate. However, the color chart is
artwork buiilt by a human. Therefore, the
artwork, not JUST the data list.
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LiquidSupply.ai
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IN SAR ON PAGE
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0
20000
40000
60000
80000
100000
120000
Total NGL
Total Sands
“2040”“2030”“2020”“2010”“2000”
(millions of oil-equivalent barrels per day)
Global Liquids Supply by Type
Conventional Crude and Condensate Oil Sands
DeepwaterTight Oil BiofuelsNGLs
120
100
80
60
40
20
ConCrude Total Sands Tight Oil Total Dpwtr Total NGL Biofuel
“2000” 68504 864 3 885 6171.45 276
68633 977 3 1086 6377.99 278
68933 1150 5 1342 6371.49 332
70111 1258 10 1511 6540.7 382
71923 1570 23 1925 6833.61 438
71959 1639 47 2607 7180.04 496
72089 1797 70 3943 7491.13 829
70772 1825 118 4479 7750.28 1136
“2010” 69453 2060 554 5857 8654.25 1392
70211 2180 758 5807 8957.76 1361
70612 2250 1044 6012 9269.17 1460
71456 2340 1255 6033 9548.51 1557
71900 2430 1435 6052 9924.06 1642
71966 2540 1550 6323 10307.9 1728
72165 2750 1640 6484 10513.7 1815
72663 2930 1719 6557 10628 1903
72846 3150 1777 6900 10753.7 1993
73052 3410 1848 7109 10900 2084
“2020” 73152 3600 1923 7429 10993.9 2176
72958 3820 2007 7919 11078.3 2274
72886 4010 2065 8408 11102.1 2372
72940 4230 2179 8672 11144.6 2470
72773 4410 2288 9224 11173.3 2568
72457 4670 2398 9809 11243.1 2665
71745 4940 2521 10623 11329.4 2792
71029 5210 2696 11412 11399.2 2919
70426 5470 2861 12154 11426.8 3046
69903 5690 3048 12819 11472.3 3173
“2030” 69572 5900 3275 13264 11524.9 3300
69403 6160 3467 13357 11564.5 3457
69093 6380 3686 13625 11587 3615
68937 6601 3849 13784 11621.8 3772
68845 6822 4050 13831 11672.3 3930
68692 7095 4210 13905 11747.8 4087
68506 7358 4432 13962 11766.3 4227
68433 7622 4603 13958 11784.1 4368
68467 7886 4807 13820 11800.5 4508
“2040” 68749 8342 5099 13519 11839.9 4789
Data as of 01/16/2012
IS IN
SAR and F&O
2000 2010 20302020 2040
Source: ExxonMobil, 2012 The Outlook for Energy: A View to 2040
Eric Whetstone • Whetstone Design
ofce: 214-583-6118 • cell:
EDITOR
Neil Hansen • Investor Relations
Exxon Mobil Corporation, Irving, TX
ofce: 972-444-1135 • cell:972-890-5469
fax: [phone]
Carol Zuber-Mallison • ZM Graphics, Inc.
studio/cell: 214-906-4162 • fax: [phone]
(c) 2012, ZM Graphics, Inc. Image can not be resold
ATTENTION: OWNER
white chart, which is then used as a
accurate. However, the color chart is
artwork buiilt by a human. Therefore, the
artwork, not JUST the data list.
VERSION
APPROVED BY
Feb. 16, 2012
FILE INFO
LAST FILE CHANGE MADE BY
09B 11XOMFO–
NatGasProd.ai
IN F&O ON PAGE
IN SAR ON PAGE
Note:
09B
S 31B
Includes link le
(billions of cubic feet per day)
Global Natural Gas Production by Type
Conventional Unconventional
600
500
400
300
200
100
Data as of 01/16/2012
IS IN
SAR and F&O
2000 2010 20302020 2040
0
100
200
300
400
500
600
1/1/401/1/301/1/201/1/101/1/00
1/1/00 248.641 10.8
1/1/10 300.839 32.14
1/1/20 347.005 70.62
1/1/30 372.194 118.4
1/1/40 371.581 167.22
Source: ExxonMobil, 2012 The Outlook for Energy: A View to 2040
By 2040, unconventional natural gas is forecast
to account for 30 percent of global natural gas
production, up from 10 percent in 2010.
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