Exxon 2015 Annual Report Download - page 33

(millions of oil-equivalent barrels per day)
Global Liquids Supply by Type
Conventional Crude and Condensate
Oil Sands
Deep Water
Tight Oil Other Liquids BiofuelsNGLs
120
100
80
60
40
20
02000 2010 20302020 2040
Source: ExxonMobil, 2016 The Outlook for Energy: A View to 2040
Eric Whetstone • Whetstone Design
EDITOR
Clark Fertitta • Investor Relations
Exxon Mobil Corporation, Irving, TX
Carol Zuber-Mallison • ZM Graphics, Inc.
studio/cell: 214-906-4162 • fax: [phone]
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(billions of cubic feet per day)
Global Natural Gas Supply by Type
Conventional Unconventional
600
500
400
300
200
100
0
2000 2010 20302020 2040
Eric Whetstone • Whetstone Design
EDITOR
Clark Fertitta • Investor Relations
Exxon Mobil Corporation, Irving, TX
Carol Zuber-Mallison • ZM Graphics, Inc.
studio/cell: 214-906-4162 • fax: [phone]
ATTENTION: OWNER VERSION
APPROVED BY
Dec. 05, 2015
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Business Overview
Our Upstream business includes exploration, development, production, natural gas marketing, and research activities.
ExxonMobil is driven to deliver industry-leading returns through the business cycle. We do this by capturing significant
and accretive opportunities to continually highgrade our resource portfolio. We maintain a large, diverse, and balanced
portfolio of opportunities to enable selective and profitable growth through a wide range of investment and geopolitical
environments. We create value through capital discipline by progressing attractive opportunities. Proven project
management systems incorporate best practices developed from our experience of rigorously managing a global
project portfolio, from initial discovery phase to production start-up.
Technology is vital to meeting growing global demand for oil and gas. We have a long-standing commitment to apply
research and technology to efficiently find, develop, and produce resources from some of the most challenging reservoirs.
We benefit from an integrated model, as technology advances in the Upstream, Downstream, and Chemical businesses
are used to address challenges across the company.
We focus on improving long-term profitability by investing in higher-margin barrels, maximizing the value of installed
capacity, and reducing costs through productivity and efficiency gains. When appropriate, we engage resource owners
to develop mutually beneficial fiscal and contractual terms to promote resource development.
Our Upstream strategies, supported by a relentless focus on effective risk management and safety to achieve operational
excellence, are designed to generate superior results over the long term.
Business Environment
Over the coming decades, energy sources will continue to evolve and diversify, driven by changes in technology, consumer
needs, and public policies. Crude oil is projected to remain the single biggest source of energy, while natural gas will play an
increasingly important role in meeting global energy needs. Demand for oil is projected to rise by approximately 20 percent
from 2014 to 2040, led by increased commercial transportation activity. A growing share of this demand will be met by
sources such as deep water, tight oil, and oil sands as a result of advances in technology. Natural gas will be the fastest-
growing major energy source through 2040. Global demand for natural gas is projected to rise by close to 50 percent from
2014 to 2040, and gas supplies from unconventional sources are projected to account for about 60 percent of that growth.
Liquefied natural gas volumes are expected to triple by 2040, contributing almost 20 percent of global gas supply.
Meeting the world’s growing demand for energy presents a tremendous challenge that requires a long-term view,
significant investment, and continued innovation to develop conventional and unconventional resources. ExxonMobil is
well positioned to meet this challenge.
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