ExxonMobil operates the Sakhalin-1 project on behalf of an international consortium of Japanese, Indian and Russian companies. In response to recent events, the company is beginning the process to discontinue operations and developing steps to exit the Sakhalin-1 venture.
The company has an obligation to ensure the safety of people, protection of the environment and integrity of operations. The process to discontinue operations will need to be carefully managed and closely coordinated with the co-venturers in order to ensure it is executed safely.
Given the current situation, ExxonMobil will not invest in new developments in Russia.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world.