The Research on the Present Stage of the World Petroleum Industry

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This Project focuses on the production of crude oil and natural gas by Exxon Corporation, now Exxon Mobil Corporation, from the early 1990 through 2003. The Company started its exploration and production in newly areas, namely, Deepwater of Mexican Gulf, the Former Soviet Union and the West Africa since the early 1990s. The main conclusions are the following:(1)The Company succeeded in the production of crude oil and natural gas in these areas by the year 2003.(2)The one of chief factors of its success was a big technical innovation regarding exploration, development, and production since 1990s. The Company discovered and developed a lot of oil and natural gas field in deepwater areas.(3)The Company began its activity in the discovered oil field in the former Soviet Union. It averted investment risk exploring undiscovered field.(4)The West Africa oil field started playing an important role to deliver a lot of energy source to the European outlet of the Company from the around 2003.(5)The acquisition of Mobil Corporation gave Exxon a very important help to catch up with other international petroleum companies in the exploration and production in the newly areas.