Exxon plans 25 new projects in next three years

NEW YORK (Reuters) – Exxon Mobil Corp (NYSE:XOM – news) plans to start 25 new global projects in the next three years, adding about 1 million barrels of oil equivalent per day to its base volumes when they reach their peak, the world’s largest publicly traded oil company said on Wednesday.

The company said its current project inventory is expected to produce 24 billion oil-equivalent barrels over the life of the projects.


Exxon Mobil Senior Vice President Stuart McGill said the company plans to start production at seven new projects in 2007 that will add about 200,000 barrels of oil equivalent per day to the company’s base volumes.

The projects the company plans to bring on line this year include four projects in Europe, two projects in Angola, and a liquefied natural gas (LNG) unit at its RasGas project in Qatar.

Reuters