US supermajor ExxonMobil expects oil and natural gas will remain an important part of the energy mix in the decades to come, in order to meet an expected rise in energy demand around the world.

Third-party studies estimate that $13 trillion of new oil and gas investments will be required by 2050 to meet the world’s projected energy demand, said Alberto Ferrin, ExxonMobil's Brazil president.

“That is about half a trillion dollars per year,” Ferrin told an audience on the first day of the Rio Oil & Gas 2022 conference.