Developing new energy sources to meet growing demand requires technological advancements and strong international partnerships, Exxon Mobil Corporation senior vice president, Mark Albers said in June at the International Oil and Gas Conference and Exhibition in China.
Noting that recoverable energy resources often are found in complex, remote locations with challenging conditions, Mr Albers said cutting-edge technology founded on operational excellence is needed to overcome these challenges and bring abundant resources to market in a safe and environmentally responsible manner.
“Regardless of where resources are located around the world, technology will remain a key to unlocking them in the most efficient and effective manner,” Mr Albers said in a speech during a plenary session at the conference.
He said the combination of leading-edge technology together with a systematic focus on safety, the environment, and operations risk management through ExxonMobil’s operations integrity management system were key enablers of the company’s ability to successfully produce the energy needed to meet growing demand.
ExxonMobil has invested more than $4 billion in research and development projects over the past five years to test high-potential opportunities that could lead to technological breakthroughs.
But it is not enough to discover new technologies – companies have to apply and manage them efficiently and effectively, Mr Albers said.
“As the technologies we employ become ever more advanced, the premium is not just on individual technical capabilities, but increasingly on the effective integration of those capabilities founded on the bedrock of operational excellence and integrity.”
Mr Albers emphasised that developing the energy resources necessary to meet growing demand requires partnerships that make technological innovation and its effective application possible. Working together with host governments and national oil companies, international oil companies are able to partner effectively and apply their advanced technologies to help meet future challenges.
“Our common industry goal is to safely deliver safe, reliable, and affordable energy to the consumer. Advancing technology and building stronger partnerships are vital to the long-term strength of our industry. Working together in effective partnerships, we can meet the challenges that lie ahead.”