ExxonMobil To Double Investment in Africa By End of Decade

ExxonMobil plans to double by the end of the decade the $12 billion it has invested in Africa in the last five years, ExxonMobil President Rex Tillerson said.

The world's largest publicly traded oil company has made a firm commitment to growth in Africa, with 30% of its current worldwide crude-oil production coming from Africa, ExxonMobil spokesman Russ Roberts added.

ExxonMobil expects to increase its African oil production to 1 million barrels a day by 2010, from the current level of 730,000 barrels a day, Roberts said.

In Angola alone, ExxonMobil now produces more than 550,000 barrels of oil a day, Tillerson said in a speech to the World Petroleum Congress in Johannesburg.

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Posted 29/09/05

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