For decades, the Ghawar field in Saudia Arabia stood alone as the most productive energy resource on the global stage – a behemoth of energy supplying much of the world’s demand.
This year, though, marked an unprecedented shakeup in the energy ranking with a resurgent Permian Basin outpacing Ghawar in production.
The Permian Basin – spanning west Texas and southeast New Mexico – has become the most prolific oil field in the world. That remarkable growth in the Permian and elsewhere has made the U.S. the world’s top oil and natural gas producer, a far-fetched idea just 20 years ago.
For ExxonMobil, the Permian represents a significant growth area. Its acquisition of XTO Energy in 2010 and subsequent acquisitions have placed ExxonMobil in contention to be one of the region’s leading producers.
That investment ripples across towns and cities in that area. In New Mexico alone, the company’s activities will create an average of 4,100 direct job opportunities and about $64 billion in net economic benefits for the state and local communities over the next 40 years.
Today, the company is engineering and putting into service infrastructure that will help deliver oil and gas to North American refineries and shipping terminals. These investments are part of a larger integrated energy ecosystem built on a foundation of advanced technology – from cloud-based solutions at the drill sites to new digital tools to increase efficiencies at refineries.
Source: ExxonMobil
