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IPAA/TIPRO Luncheon Houston December 8, 2004 Taking on the world’s toughest energy challenges Rex Tillerson President Exxon Mobil Corporation.

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Presentation on theme: "IPAA/TIPRO Luncheon Houston December 8, 2004 Taking on the world’s toughest energy challenges Rex Tillerson President Exxon Mobil Corporation."— Presentation transcript:

1 IPAA/TIPRO Luncheon Houston December 8, 2004 Taking on the world’s toughest energy challenges Rex Tillerson President Exxon Mobil Corporation

2 Cautionary Statement Outlooks, projections, estimates, targets, and business plans in this presentation are forward-looking statements. Actual future results, demand growth and supply mix; resource recoveries; project plans, timing, costs, and capacities; revenue enhancements and cost efficiencies; and the impact of technology could differ materially due to a number of factors. These include changes in long-term oil or gas prices or other market conditions affecting the oil, gas, and petrochemical industries; changes in law or government regulation; the outcome of commercial negotiations; the actions of competitors; unexpected technological developments; and other factors discussed here and under the heading "Factors Affecting Future Results" in item 1 of our most recent Form 10-K and on our Web site at References to quantities of oil and gas include amounts that are not yet classified as proved reserves but that we believe will likely be produced in the future. See also the "Frequently Used Terms" and current reports furnished under items 2.02 and 12 of Form 8-K available through our Web site. This material provides additional information regarding return on capital employed, normalized earnings, and other terms used in this presentation, including information required by SEC Regulation G. The 2003 Financial and Operating Review on our Web site also shows ExxonMobil's net interest in specific projects.

3 Oil & Gas Remain as Primary Energy Sources

4 World Oil Demand

5 World Liquids Production Outlook

6 Large Oil Resources Exist Locations of Major Deposits Trillions of Barrels Oil in Place Conventional Oil Oil Sands Oil Shale Conventional Oil EHO/Oil Sands Oil Shale Produced

7 World Gas Demand

8 Gas Trade Grows Increasingly Significant North America Total Europe Russia/Caspian Asia Pacific Latin America Africa Middle East 53%65%70% %18%21% 10%18%24% Total Regional Trade Net Exports, GCFD Net Imports, GCFD & % Regional Demand Total Regional Trade Net Exports, GCFD Net Imports, GCFD & % Regional Demand

9 LNG Market Growth Supply MTA BCFD Global LNG sales grow by factor of 4 by 2020 US gas demand requires both LNG & Arctic gas Greenfield terminals required to provide entry points Significant investment to integrate across full value chain Technology key to low cost supplier

10 Meeting the Challenge Scale of investment required Ability to manage risk Access to resources Importance of fiscal certainty Industry Outlook - Oil & Gas Demand/Supply MOEBD Required New Production Required New Production Existing Production Existing Field Decline ~ 4 - 6% Existing Field Decline ~ 4 - 6% World Demand ‘80‘85‘90‘95‘00‘05‘10‘15‘20 0

11 Taking on the world’s toughest energy challenges


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