Irving-based ExxonMobil CFO Kathy Mikells said this week in a presentation of the company’s corporate plan that ExxonMobil expects to produce 700,000 oil-equivalent barrels per day by 2025 in Permian Basin (367,000 in 2020). The global energy giant plans to maintain capital spending plans of $20 billion to $25 billion per year through 2027 and prioritize investments (60 percent of capex in Permian, Brazil and Guyana and in LNG and chemical projects). Mikells said Wednesday, “The foundation of our plan is our robust pipeline of high-value, lower cost-of-supply future developments. The investments we’re making over the next six years prioritize assets that achieve the highest returns, are resilient across the price cycle, and have a lower emissions intensity.”
ExxonMobil plans to invest $15 billion by 2027 in lower-emissions projects. The company is on track to exceed its 2025 greenhouse gas emission-reduction goal (announced in December 2020) by yearend 2021 four years ahead of schedule