ExxonMobil To Not Make Any Substantial Investment In Russia

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ExxonMobil will stop operating on Sakhalin-1 and will not make any additional investments in Russia as reported by ExxonMobil.

Fight for freedom

ExxonMobil stands with the people of Ukraine as they fight for their freedom and the future of their country. We condemn Russia’s military action, which jeopardises Ukraine’s territorial integrity and puts its people in danger.

The loss of innocent life saddens us immensely, and we support the strong international response. All sanctions are being followed to the letter.

Global partnership

The Sakhalin-1 project is managed by ExxonMobil on behalf of a global partnership of Japanese, Indian, and Russian enterprises. As a result of recent developments, we are starting the process of ceasing operations and developing exit strategies for the Sakhalin-1 enterprise.

As Sakhalin-1’s operators, we have a responsibility to ensure people’s safety, environmental protection, and operational integrity.

New developments

Our job as operators entails more than just a financial investment. To guarantee that the process of ceasing operations is carried out securely, it will need to be carefully supervised and closely coordinated with the co-venturers.

ExxonMobil will not invest in new developments in Russia due to the current scenario.

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Source: ExxonMobil

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