ABU DHABI, United Arab Emirates, Tuesday, November 2nd 2010 [ME NewsWire]:
(BUSINESS WIRE)-- The challenge of meeting the world’s future energy demand will require leaders to think beyond conventional solutions and to embrace opportunities for innovation, Mark Nolan, vice president of the Middle East and Russia for ExxonMobil Production Company, said today at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).
Nolan said the oil and natural gas industry “has been advanced by visionaries who are able to harness technology and teamwork to solve our energy challenges.”
Around the world, ExxonMobil has developed leading-edge technologies which are not only growing the resource base, but are also changing how the industry defines “unconventional” resources. One such technology– Extended Reach Drilling – is expanding options and accessing resources once thought out of reach, Nolan said. “Accessing reservoirs from a drilling site several miles away is an enormous feat. At ExxonMobil, we are able to achieve these accomplishments partly due to our global organization, which ensures uniform application of new technology and promotes the sharing of best practices.”
Nolan noted ExxonMobil’s success in the development of gas technologies, such as the Multi-Zone Stimulation TechnologySM (MZSTSM), enables the development of hard-to-reach resources. “MZSTSM is helping us unlock vast quantities of so-called ‘tight gas’ from formations we once thought impenetrable. This award-winning, breakthrough process is built upon a foundation of more than a decade of steady investment in research and development, reflecting ExxonMobil’s practice of making long-term commitments to pursue game-changing technologies,” he said.
New technologies are being used to develop sour natural gas resources – resources that contain carbon dioxide and other impurities. The company’s new Controlled Freeze Zone™ technology (CFZ™) could hold the potential for future widespread use in carbon capture. “CFZ™ is a single-step cryogenic separation process that freezes out and then melts the carbon dioxide and removes other impurities found in produced sour-gas streams – without the use of solvents. It is a technology with many advantages: fewer processing steps, less capital requirements, reduction or elimination of solvent and additives, lower acid gas injection costs and significant environmental benefits,” Nolan said.
Solid partnerships, along with the right application of the right technology, are vital to meeting the challenge of future energy demand, Nolan said. “Partnerships are essential in commercializing resources. Here in Abu Dhabi, we are privileged to work with Abu Dhabi National Oil Company (ADNOC) and the joint venture operating companies ZADCO and ADCO to maximize the value of Abu Dhabi’s resources. As an example, the Upper Zakum expansion project, using new artificial islands and extended reach drilling has shown what is possible when tough challenges inspire innovative solutions.”
Nolan concluded, “Today global reserves are increasingly found in extreme environments deep under the earth and in rock formations once thought of as impenetrable. As economies and populations grow, the world’s energy demand will continue to rise, and meeting that demand in the most efficient and safe manner while protecting our natural resources will be one of this generation’s toughest challenges. It will not be an insurmountable challenge given the right combination of visionary leadership, technology and partnership.”
CAUTIONARY STATEMENT: Statements in this release regarding future events and conditions are forward-looking statements. Actual future results, including the impact of new technologies, could differ materially due to changes in long-term oil and gas price levels or other market conditions affecting the oil and gas industry; political or regulatory developments; the outcome of research and development projects; technical or operating factors, including unexpected technical difficulties; the outcome of commercial negotiations; and other factors discussed under the heading "Factors Affecting Future Results" posted in the "Investors" section of our website (www.exxonmobil.com).
About ExxonMobil
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is the largest refiner and marketer of petroleum products, and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com.
For media enquiries, please contact:
ExxonMobil Upstream
Media Relations,
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Exxon (Al Khalij) Inc
Marina Gruendig,
+ 971 (2) 6960-625 (Abu Dhabi)
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