(RTTNews) -  Thursday, Exxon Mobil Corp. (XOM: News ) said that it expects an investment profile of about $28 billion in 2010 and a range of $25 billion to $30 billion per year on average through the year 2014. The company said that it is well positioned for growth despite a volatile industry environment and that it will continue to progress its biofuels program and alliance with Synthetic Genomics Inc., to develop next-generation biofuels from photosynthetic algae.

"Each of our three business segments, Upstream, Downstream and Chemical, outpaced our competitors," said Rex Tillerson, chairman and chief executive officer.

"We manage each of our business lines for the long term. A disciplined approach to investing through the business cycle has established a long record of responsible stewardship of our shareholders' money," he added.

In 2009, ExxonMobil reported earnings of $19.3 billion and generated cash flow of $28.4 billion. The company said this is providing it with important flexibility to fund business plans and generate strong returns for shareholders through its annual dividend, which has increased by 57% over the past five years, and a share purchase program, which has increased per-share ownership by 26% over the same period.

ExxonMobil's return on capital employed, a key indicator of disciplined decision making and financial performance, was 16.3%, more than 50% higher than its nearest competitor.

"We are executing a large inventory of projects and many others are under development. Actual spending in a given year will vary depending on the pace and the progress of each project. However, we are anticipating an investment profile of approximately $28 billion in 2010 and a range of $25 billion to $30 billion per year on average through the year 2014," stated Tillerson.
In 2009, the company replaced more than 133% of its 2009 production with proved reserves additions totaling 2 billion oil equivalent barrels, based on long-term pricing used by the company to make investment decisions. It was the 16th consecutive year the company replaced more than 100% of its production.

The company added the equivalent of 3.9 billion barrels of oil to its resource base through by-the-bit additions, resource acquisitions and revisions to existing fields.

The company said that it had a 64% success rate from the 45 wildcat wells drilled during the year and has increased prospective net exploration acreage by 17% to 72 million acres over the past five years.

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