Exxon Mobil Corp. (NYSE: XOM) reported Tuesday that it has added 2 billion barrels of oil equivalent to its proved reserves in 2009, according to Associated Press.
The addition was the highest gain in the decade and a 33 percent rise above last year's addition.
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Exxon Mobil, the world's largest publicly traded oil company, said it replaced 133 percent of its 2009 production.
Analysts typically say that for a company to indicate growth, reserves replacement should average more than 100 percent over a three- to five-year period.
Chief Executive Rex Tillerson said in a statement that the company has replaced more than 100 percent of production for 16 consecutive years.
The company said 2009 reserve gains were supported by additions from the Papua New Guinea LNG project and the Gorgon Jansz LNG project in Australia, which totaled almost one billion barrels of oil equivalent. Proved additions were also made in other countries including Canada, the United States, Angola and Norway.
By year end, the company's proved reserve base rose to 23.3 billion barrels of oil equivalent.
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