Exxon Mobil Drilling for Lithium in Arkansas for Electric Vehicle Production
Exxon Mobil Ventures into Lithium Production
Exxon Mobil recently made an announcement that it will be drilling for lithium in southern Arkansas. The oil giant has acquired the rights to a vast area in the Smackover formation, which is known to be one of North America’s most abundant lithium resources. With this move, Exxon aims to start production of lithium for electric vehicles by 2027. By 2030, they aim to produce enough lithium to meet the manufacturing needs of over 1 million electric vehicles.
Importance of Lithium in the Energy Transition
Exxon Mobil recognizes the significance of lithium in the global energy transition. Dan Ammann, President of ExxonMobil Low Carbon Solutions, highlights the leading role that Exxon will play in facilitating the electrification of vehicles. As the demand for electric vehicles continues to rise, the need for lithium as a crucial component in their batteries is also increasing.
Benefits for Arkansas
The lithium drilling project in Arkansas is not only significant for Exxon Mobil but also for the state itself. Arkansas Governor Sarah Huckabee Sanders expressed excitement about the project, stating that it has the potential to transform the state. The project is expected to boost the local economy and create opportunities for growth. Columbia County Judge Doug Fields emphasized that preparations are already underway to ensure smooth operations for the project.
Sustainable Lithium Extraction Process
Exxon Mobil plans to utilize conventional oil and gas drilling methods to access lithium-rich saltwater reservoirs located approximately 10,000 feet underground. Once obtained, they will employ a process called “direct lithium extraction” technology to extract lithium from the saltwater and convert it into battery-grade material on-site. This process is considered to be more environmentally friendly, producing fewer carbon emissions compared to traditional hard rock lithium mining.
