Technology key to new energy -- Exxon

June 8, 2010 at 9:48 AM
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BEIJING, June 8 (UPI) -- New technology and strong international relations are needed to meet the challenges of unlocking new energy sources, Exxon Mobil officials said in Beijing.

Mark Albers, senior vice president of Exxon Mobil Corp., addressed delegates at the International Oil and Gas Conference and Exhibition in China.

He said his company has invested more than $4 billion in research projects to find new energy sources, though managing them effectively is vital to energy security.

"Regardless of where resources are located around the world, technology will remain a key to unlocking them in the most efficient and effective manner," said Albers.

The top executive at the U.S. supermajor said recoverable energy resources are usually linked to remote areas with tough environmental conditions. Working together, he said, would help unlock natural resources in an environmentally responsible manner.

"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," he said.

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