WorldWide Drilling Resource

24 SEPTEMBER 2015 WorldWide Drilling Resource ® ExxonMobil Set to Ramp Up Production Adapted from Information by Exxon Mobil Corporation According to Rex W. Tillerson, chairman and CEO for Exxon Mobil Corp., the company is planning to start-up 16 major oil and natural gas projects during the next three years and is on track to increase daily production to 4.3 million oil-equivalent barrels by 2017. “Our long-term capital allocation approach has not changed,” Tillerson said. “We remain committed to our investment discipline and maintaining a reliable and growing dividend. Our integrated model, along with our unmatched financial flexibility, enable us to execute our business strategy and create shareholder value through the commodity price cycle.” Throughout 2015, the company plans to increase production volumes 2% to 4.1 million oil-equivalent barrels per day, driven by 7% liquids growth. This increase will be assisted through the ramp up of several projects completed in 2014, and the expected start-up of seven new major developments in 2015. “We are capturing savings in raw materials, service, and construction costs,” Tillerson said. “The lower capital outlook also reflects actions we are taking to improve our set of op- portunities while enhancing specific terms and conditions and optimizing development plans.” One of the projects which will be expanded in 2015, is the Kearl oil sands project in Alberta, Canada. With 4.6 billion barrels of recoverable bitumen, Kearl is one of Canada’s largest and highest quality oil sands deposits. The company plans to use its patented paraf- finic froth treatment (PFT) process. This new technology processes bitumen on-site to remove water and solids and improve bitumen quality. The bitumen is then blended with condensate to create a diluted bitumen product. The PFT process removes a portion of the heavy end of the barrel (asphaltenes) using less energy than would be required to remove the same heavy ends in a coker at an on-site upgrader, reducing greenhouse gas emissions. In 2016 and 2017, production increases are expected from several projects, including Gorgon Jansz inAustralia, and the Hebron project in Eastern Canada. There are also plans to expand projects in Upper Zakum in UnitedArab Emirates and Odoptu in Far East Russia. Photo of Mr. Tillerson courtesy of ExxonMobil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