ExxonMobil Licenses Oil Sands Steam Injection Technology to Baker Hughes

ExxonMobil Upstream Research Company has awarded the first license for
its patented steam injection system and production method to Baker
Hughes to improve the efficiency of in-situ oil sands projects.
Approximately 80 percent of Canada′s oil sands can be produced using
in-situ technology, which involves the injection of steam to enable
bitumen to be extracted through drilling versus surface mining.

The ExxonMobil-patented technology provides more effective regulation
and distribution of steam in long horizontal wells for in-situ oil sands
production. The technology reduces the number of wells needed, lowers
operating costs by reducing steam consumption and improves overall
recovery from the field.

The technology can be used in cyclic steam stimulation (CSS),
steam-assisted gravity drainage (SAGD) and steam flood (SF) heavy oil
production projects. The technology was developed by Imperial Oil
Limited, an ExxonMobil Canadian affiliate, and applied at the Imperial Cold
Lake oil sands project.

'We have demonstrated that our technology can improve the economics and
the environmental performance of oil sands projects,? said Sara Ortwein,
ExxonMobil Upstream Research Company president. 'This is one of several
significant technologies we have developed over the past five decades
for improving oil sands production.?

The steam injection technology (embodied in United States patent
6,158,510 and Canadian patent 2,219,513) has two key components:

• 
  An externally mounted screen section that enables excellent contact
  between the well and the reservoir, and
  
• 
  One or more small flow orifices beneath the screen section that
  creates the desired level of flow restriction between the inside of
  the pipe and the reservoir.
  

The technology enables control of steam into the formation over the
entire length of the horizontal well. For SAGD applications, this
technology can be used on both injector and producer wells to manage
steam distribution and oil production from the reservoir.

'This robust technology has proven itself in oil sands applications in
Canada by increasing the efficiency of the injected steam and improving
ultimate recovery, which translates into lower CO₂ emissions
per barrel of oil produced,? said Eddie Lui, Imperial Oil Resources
vice-president, oil sands development and research. 'We have seen CO₂
reductions of up to 10 percent compared to traditional vertical CSS
completions.?

'This steam-injection technology benefits in-situ oil sands operations
through its ability to design and control distribution of steam and is a
fitting addition to our wide portfolio of capabilities in Canada, where
heavy oil producers look to Baker Hughes for solutions to the unique
challenges of oil sands projects,? said Mike Davis, president of Baker
Hughes International Canada.

Over the past 40 years, ExxonMobil has invested more than 2,000 work
years in heavy oil research. These efforts include developing
proprietary in-situ recovery processes, enhancing surface-related
technologies to improve the economics of mining operations, and creating
technologies to increase the value of heavy oil and aid in its transport.

Imperial Oil′s Calgary research center is considered to be one of the
leading oil sands research facilities in the world. Since 1961, Imperial
has held more than 160 upstream patents, including the first patents on
CSS and SAGD, two key processes used across the industry in bitumen
recovery. Today, those inventions are continually being refined at the
center to improve productivity and environmental performance.

About ExxonMobil Upstream Research Company

ExxonMobil Upstream Research Company is the Upstream research affiliate
of Exxon Mobil Corporation (NYSE:XOM), a leading global oil, natural
gas, and petrochemicals company with operations in nearly 200 countries
and territories worldwide. ExxonMobil Upstream Research Company is
charged with developing an industry-leading array of proprietary
technologies that support the Corporation's continued leadership
position in exploration, development, production and gas
commercialization. For more information, visit www.exxonmobil.com.

About Imperial Oil Limited

Imperial Oil is one of Canada's largest producers/refiners of crude oil
with almost $25 billion in operating revenue and more than $2 billion in
earnings (2010). It also has more than 2.5 billion barrels of proved and
developed reserves. Imperial Oil was formed in 1880 and has been a key
part of ExxonMobil since Standard Oil acquired a majority stake in 1898.
For more information, visit http://www.imperialoil.ca.

CAUTIONARY STATEMENT: Statements in this release regarding future events
or conditions are forward-looking statements. Actual future results,
including the performance of new technology, could differ materially
depending on geologic conditions, technical or operating factors, and
other factors discussed under the heading 'Factors Affecting Future
Results' on the 'Investors' section of our website at www.exxonmobil.com.

Upstream Media Relations

713-656-4376