Exxon Mobil sees dip in 2012 oil, gas output

In a slide presentation for its annual analysts' meeting, the company said its production of liquids would grow by 2 to 3 percent on average through 2016, while its gas output would rise by 0.5 to 1.0 percent.

The company, the world's largest non-government controlled producer of oil and gas, saw its production rise last year by 1 percent to 4.5 million barrels of oil equivalent (BOE) per day.

That modest growth came as the company spent a total of $36.8 billion, slightly less than the $37 billion per year it expects to spend annually for the next five years.

That spending will go toward nine major project start-ups this year and in 2013, the company said, which will help it bring on new production of more than 1 million BOE per day over five years.

"The industry is in a period of high capital investment," Chief Executive Rex Tillerson told the meeting.

Shares in Exxon slipped 0.6 percent to $85.32 per share in early trading on the New York Stock Exchange.

(Reporting By Matt Daily; Editing by Gerald E. McCormick, Dave Zimmerman)