The chairman and CEO of US energy giant ExxonMobil has said that the current financial climate is not going to affect any of the company’s investment plans or force any redundancies.
Speaking in Ras Laffan at the inauguration of the Qatargas 2 project, Rex Tillerson told the news gathering agency AP that the IOC had a budget of US$129 billion in the next five years.
Tillerson went on to tell AP that the figure includes exploration, production and refining in both oil and gas across all of the company’s business.
“Our business plans are developed with a very long view in mind. So the fact that we’re in a temporary economic downturn — and it will be temporary; it will turn — really does not affect our business plans at all,” he told AP.
ExxonMobil own a stake the Qatargas 2 project and are also in talks to team up with Qatar Petroleum on another, as yet unidentified, project in the near future.
Tillerson is no stranger to Qatar. He recently praised the country for its investment in the hydrocarbon industry at a conference. Â
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