how do we find tomorrow’s energy? invest today.

Though the share of global energy demand met by oil and gas will remain about the same, we still need to increase supply by approximately 40% in the next 25 years to meet the world’s growing needs. This will require continuing massive investment in exploration and new production.

The International Energy Agency estimates that the industry will need to invest an average of about 225 billion Euros a year between now and 2030 to meet global oil and gas demand. The EU Energy Green Paper calls for investment of one trillion Euros over the next 20 years to secure European supplies.

Between 2002 and 2006, ExxonMobil invested some 70 billion Euros on six continents to search for new resources, build new production facilities, expand refining capacity and deploy environmentally advanced technologies. In 2006 alone, we invested, on average, about 40 million Euros a day in finding and developing new supplies worldwide.

Energy Makes The World Go Round. So How Do We Make Sure There’s Enough To Go Round In Europe?
The International Energy Agency recently forecast that Europe’s* net oil imports will grow from nearly 58% of supply in 2004 to around 80% in 2030. The IEA projects rising gas imports too: from 40% of European supply in 2004 to about two-thirds in 2030. Solving the question of maturing indigenous reserves and rising imports will be critical to maintaining economic growth in Europe. That’s why we’re concentrating so much resource here.