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ExxonMobil to invest $20 billion in expanding production in Mexico Gulf

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ExxonMobil to invest $20 billion in expanding production in Mexico Gulf

The US energy company ExxonMobil Corp. plans to invest $20 billion over the course of 10 years in the expansion of oil and gas processing projects on the north coast of the Gulf of Mexico, the head of the company, Darren Woods, announced at a conference CERAWeek 2017.

The statement released by the company says that the funds will be invested in 11 existing and planned projects, after the completion of which 45 thousand jobs are expected to be created there, most of which will be highly paid ones.

“ExxonMobil makes strategic investments in new projects for refining and chemical production on the north coast of the Gulf of Mexico, in order to expand its production and export potential… Investments started in 2013 and will continue at least until 2022,” - the message reads.

ExxonMobil is an American oil company, the largest private oil company in the world. Principal owners of the company are investment funds, institutional and private investors.

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