ExxonBy Mel Duvall | Posted 2006-05-06 Email Print
Rocketing oil prices are driving the nation's big oil companies to record profits. And ExxonMobil stands out in the industry. By investing in proprietary systems and ensuring that technology is tightly aligned with its top goals of finding more oil and ga
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Headquarters: 5959 Las Colinas Blvd., Irving, TX 75039
Phone: (972) 444-1000
Business: The world's largest company by market capitalization, and the most profitable, is an integrated oil and gas company, involved in exploration, production and refining of oil and gas.
Chairman and Chief Executive: Rex Tillerson
Vice President, Information Technology: Patricia Hewlett
Financials in 2005: $371 billion in revenue, $36.1 billion in profits, 9.7% profit margin.
Challenge: Take advantage of new information and exploration technologies to achieve business goal of tapping increasingly harder-to-find oil and gas deposits.
- Leverage its $700 million technology budget to increase oil and gas production to 5 million oil-equivalent barrels per day by 2010, from 4.1 million barrels today.
- Wring out $1 billion in efficiencies in 2006 from operating costs that totaled $57 billion in 2005, through advances such as virtual drilling technologies.
- Start work on 20 new oil and gas projects through 2008 to boost reserves inventory by 26 billion oil-equivalent barrels, from a reserves base of 73.2 billion barrels at the end of 2005.
Straight shooter: CEO Rex Tillerson Doesn't Play Games
- Big Oil's Big Challenge
- R&D Like Launching a 'Moon Shot' Every Decade
- Exxon's Balanced Methodology
- Virtual Drilling: Exxon's Technology Edge
- Business Intelligence Guides Exploitation of Oil Resources
- Oil in the DNA: The Exxon Culture
- ExxonMobil Base Case
- The Technology of Oil Exploration
- How Big Oil Uses XML
- Roadblock: Getting Oil Business Managers on Board
- Gotcha: Don't Let Grid Computing Trip You
- Vendor Profile: A Look at IBM's Supercomputers and the Oil Business