Exxon sees N. American oil and gas output up 45 pct to 2040

March 13 Wed Mar 13, 2013 11:06am EDT

March 13 (Reuters) - Exxon Mobil Corp expects oil and natural gas production to rise 45 percent over the three decades to 2040, boosted by output from U.S. shale formations and the Gulf of Mexico.

The world's largest publicly traded oil company also sees U.S. energy consumption falling about 5 percent from 2010 to 2040, driven by gains in efficiency, it said in a report released on Wednesday.

The combination of rising output and slowing demand should lead to North America becoming a net energy exporter by about 2025, Exxon said.