From left: ExxonMobil Exploration Company’s Kim Begay-Jackson, Steve Greenlee, Norm Allegar and Paul Lee discuss the results of a 2015 seismic program conducted at the Sakhalin-1 project.
How is ExxonMobil’s technology leadership
how to develop a superior project. Those who become technical and business leaders within the corporation will have a complete understanding of what is required to create the most value for shareholders. These opportunities are not necessarily available within many other companies. How are lower crude oil and natural gas prices affecting exploration? Some might think we would be significantly pulling back, as many in the industry have. While our capital expenditures are down from last year, we are well posi-
tioned to continue competing for the most attractive opportuni- ties. We are organically growing exploration in new areas, and searching for more opportunities in established areas. Further, we are seeing a lot more exploration prospects coming on the market. Some of these involve situations where fi- nancially constrained companies are offering attractive deals in which we can acquire an interest and help them explore their qual- ity properties. This is particu- larly true in the international and deepwater sectors.
paving the way for exploration, development and production in ultradeep water. While some of our competi- tors, for instance, are focusing exclusively on U.S. shale plays, our exploration opportunities span the globe, and we continue to progress into increasingly challenging areas as our technol- ogy advances. Without a doubt, it’s a great time to be in exploration.
keeping it more competitive? We have capabilities to see things others can’t. For example, our new full wavefield inversion tech- nology allows us to model subsur- face geology in much more detail than the industry could achieve before. And this is just one of a number of seismic-imaging tech- nologies made possible by our industry-leading use of super-fast, high-performance computing. ExxonMobil’s technology ad- vantage also spans the upstream to include drilling, engineer- ing and facilities design – all
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