Exxon sees oil, gas projects spending of $20 billion a year through 2011

Exxon sees spending of $20 billion a year through 2011

Mar 8, 2007

Exxon Mobil Corp. plans to spend about $20 billion annually through 2011 and start production at 25 major oil and gas projects over the next three years, the oil company said.

The projects will add about 1 million barrels of oil equivalent per day (BOEPD) to its base volumes when they reach their peak, Exxon Mobil said. The company was producing about 4.2 million BOEPD at the end of 2006.

Full news report here @ Reuters