Exxon 2012 Annual Report Download - page 33

BUSINESS OVERVIEW
Demand for oil and other liquid fuels is forecast to increase by about 30 percent from 2010 to 2040. Meeting this demand will
require replacing normal conventional resource decline while also increasing production from deepwater, tight oil, oil sands,
and natural gas liquids. In total, approximately 113 million oil-equivalent barrels per day will be required to meet liquids demand
in 2040. At the same time, global demand for natural gas is likely to increase by about 65 percent. Growth in unconventional
supplies is expected to account for approximately 60 percent of that increase and approach one-third of global gas supply by
2040. Meeting growing demand presents a tremendous challenge that will require a long-term view, significant investment, and
continuing innovation to develop conventional and unconventional resources.
Through the disciplined execution of our Upstream strategies, ExxonMobil is well positioned to help meet this challenge while
delivering long-term value for our shareholders. We start by identifying and selectively capturing the highest-quality resources
around the globe. In 2012, these efforts added nearly 1.8 million net acres to our exploration portfolio across all resource types
and in some of the world’s most prospective areas.
We then apply a disciplined approach to investing and cost management. Proven project management systems incorporate
best practices from around the globe to rigorously manage our project portfolio from initial discovery to start-up. In 2012, we
participated in the start-up of three major liquids projects. We plan to bring 28 major projects online between 2013 and 2017,
which are expected to deliver approximately 1 million net oil-equivalent barrels per day of production by 2017.
Our steadfast commitment to develop and apply high-impact technologies in areas such as subsurface imaging and well
completions, allows us to find, develop, and produce new resources from some of the most challenging reservoirs and extreme
environments on earth.
We apply robust operations and risk management systems to maximize the profitability of our existing oil and gas production.
Over the last five years, our operated facility uptime was more than 3 percent, or more than 45 thousand net oil-equivalent
barrels per day, higher than fields operated by others in which we hold an interest.
With our detailed knowledge of global energy markets we are also able to capitalize on growing natural gas and power markets.
In 2012, we sold more than 15.2 billion net cubic feet per day of gas across 33 countries including participating in liquefied natural
gas operations that delivered 61 million tonnes to global markets.
Overall, our Upstream business continues to apply effective risk management, safety, and operational excellence across our
integrated global businesses.
(millions of oil-equivalent barrels per day)
Global Liquids Supply by Type
Conventional Crude and Condensate
Oil Sands
Deepwater
Tight Oil Other Liquids BiofuelsNGLs
120
100
80
60
40
20
2000 2010 20302020 2040
Source: ExxonMobil, 2013 The Outlook for Energy: A View to 2040
Eric Whetstone • Whetstone Design
ofce: 214-583-6118 • cell:
EDITOR
Todd Sepulveda • Investor Relations
Exxon Mobil Corporation, Irving, TX
ofce: 972-444-1151 • cell:504-312-0126
Carol Zuber-Mallison • ZM Graphics, Inc.
studio/cell: 214-906-4162 • fax: [phone]
APPROVED BY
Feb. 03, 2013
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(billions of cubic feet per day)
Global Natural Gas Production by Type
Conventional Unconventional
600
500
400
300
200
100
2000 2010 20302020 2040
Eric Whetstone • Whetstone Design
ofce: 214-583-6118 • cell:
EDITOR
Todd Sepulveda • Investor Relations
Exxon Mobil Corporation, Irving, TX
ofce: 972-444-1151 • cell:504-312-0126
Carol Zuber-Mallison • ZM Graphics, Inc.
studio/cell: 214-906-4162 • fax: [phone]
APPROVED BY
Feb. 19, 2013
LAST FILE CHANGE MADE BY
F19B S31B 12XOMFO-
.ai
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