Amid the geopolitical conflict in Ukraine, BlackRock Inc. executives are expecting huge investments in exploring and developing additional oil and gas in 2022 to lessen the world's dependency on Russia.

They also expect to see an acceleration in greener energy alternatives as oil and gas prices increase.

"In response to the energy shocks caused by the war in Ukraine, many countries around the world are reevaluating their energy dependencies and are looking for new sources of energy. ... I believe recent events will accelerate the shift towards greener sources of energy in many parts of the world over the long term," CEO Laurence Fink said on the company's April 13 earnings call.

Fink said this is a "long-term project" but the supply shocks and excess demand will "create an investment boom."

Fink noted that BlackRock has recently engaged in conversations with Japan and the Middle East about creating multiple supply chains for energy, including decarbonization and the utilization of hydrogen.

"In our forecast for new growth in these areas, we're forecasting the build-out of three large infrastructure funds to meet these needs," Fink said.

Fink later mentioned on the call that BlackRock expects long-term investment opportunities in the energy space.

"Our connectivity in this space has never been greater. And I would say with high confidence and high conviction, the opportunities to place a lot of money in very unique investment opportunities in this interconnectivity, sustainability and infrastructure is going to be large," Fink said.