ExxonMobil Grants Nippon Steel First License for Patented Field Welding Technology for X120 Ultra High-Strength Linepipe

IRVING, Texas--(BUSINESS WIRE)-- Exxon Mobil Corporation (NYSE: XOM) and Nippon Steel Corporation announced today that ExxonMobil has granted Nippon Steel the world’s first license for patented field welding technology used to construct high-pressure pipelines made with X120 ultra high-strength steel linepipe.

ExxonMobil pursued a comprehensive X120 development program to ensure that field welding technology would meet X120 strength requirements and be compatible with conventional pipeline construction practices. The X120 welding technology uses the pulsed gas metal arc welding process (PGMAW) with a proprietary solid welding wire and argon-based shielding gas to achieve high-strength welds with high toughness. Welding is performed using standard automated and semi-automated welding tools familiar to pipeline industry welders.

The technology now licensed by ExxonMobil to Nippon Steel also includes the right to manufacture the proprietary welding wire. The signing of the license agreement makes Nippon Steel the world’s first and sole pipe manufacturer having available both a mill to manufacture X120 linepipe and ExxonMobil welding technology for pipeline construction.

X120 ultra high-strength linepipe was jointly developed by ExxonMobil’s Upstream Research Company and Nippon Steel. X120 linepipe is 50 percent stronger than the strongest linepipe steel (X80) commonly used in gas transmission pipelines and is a cost effective and safe method of transporting natural gas from remote regions to urban customers using high-pressure, large-diameter pipelines.

Natural gas demand is forecast to grow 60 percent globally in the next 20 years. Many new gas resources required to meet this demand are in remote areas and will require cost-effective transportation options before they can be commercialized. The use of X120 linepipe could substantially improve the economics of long-distance pipelines used in the development of remote gas resources.

About ExxonMobil

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.

About Nippon Steel

The Nippon Steel Group, focused on steel manufacturing, contributes to industrial development and the enhancement of peoples' lives through creation and supply of valuable and attractive products and ideas. Nippon Steel Group has developed an organization that can dynamically meet the needs of each expanding market and thereby increase its global marketing strength in order to meet the needs of customers throughout the world.

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.

ExxonMobil
Patrick McGinn, 713-656-4376

Source: Exxon Mobil Corporation

Released August 10, 2011