18 Oct 2022 12:08

ExxonMobil fully exits Russia following creation of new operator for Sakhalin-1 project

MOSCOW. Oct 18 (Interfax) - U.S. ExxonMobil has fully exited Russia following the creation of a new operator for the Sakhalin-1 PSA project, the company's press service has told Interfax.

"We have smoothly exited Russia following the expropriation. Our priority has always been to be a responsible operator, protecting employees, the environment, and the integrity of operations at Sakhalin-1. With two decrees, the Russian government has unilaterally terminated our interests in Sakhalin-1, and the project has been transferred to the Russian operator," ExxonMobil said.

"We are grateful for the professionalism, expertise and dedication demonstrated by the employees of Exxon Neftegas Ltd. [the previous operator of the Sakhalin-1 project] in these difficult circumstances, and we are proud of our significant achievements in the Sakhalin-1 project since 1996," the ExxonMobil representative added.