Exxon Mobile Corp. management took a firm decision to rescue the company from shares slump, Bloomberg reports. While rivals put restrictions on capital expenditures, Exxon is going to invest about $200 billion over next seven years.

According to new investment plan, the money will be invested into low cost oil and gas mega projects.

Now the leaders of the company have to persuade investors that this decision is right. Exxon Mobile shares lost 9% in 2017 since new CEO Darren Woods took his position. For comparison: shares of its biggest rival Royal Dutch Shell Plc grew up by 18%.

Recent oil prices growth made competitors, including BP, buy back shares, while others, like Chevron and Shell, put strict limits on capital expenditures, since they decided to reward investors that stayed with the company during years of market slump.

The situation is different for Exxon… This largest publicly traded oil company in the world bought resources during downturn and now is going to spend $200 billion on developing them.

Shares of the company dropped by 2,3% to $80,29, while Brent price lost 1,1% to $78,91 a barrel.

Investment plan is in fact a necessity to increase production that fell five years out of last six. In April company published worst quarterly production results since 1999.

Main areas for new development include offshore of Guyana and Brazil (oil), Mozambique and Papua New Guinea (LNG) as well as Permian Basin in the US (shale oil).

First announcement about new investment plans in March did not inspire investors hoping that some money will be returned to them.