Unconventional projects gain traction in inhospitable landscape

03/9/2010 | Bloomberg Businessweek

Energy firms such as ExxonMobil and BP are increasingly turning to unconventional oil and gas projects with higher costs and lower returns to cope with a changing energy landscape. "Their No. 1 problem is reserves replacement," said Nansen Saleri, the former reservoir-management chief at Saudi Arabia's state oil firm. "That's the elephant in the room, so that's what they have to address."

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