ExxonMobil Says Not Planning to Leave Sakhalin-1 Project in Russia


MOSCOW, May 16 (Reuters) – U.S. energy giant ExxonMobil has no plans to pull out of the Sakhalin-1 project in Russia, an ExxonMobil official said on Friday in response to a Russian media report.

The Kommersant newspaper reported on Friday that ExxonMobil might have to pull out of the project to develop the Sakhalin-1 oil and gas field in Russia's far east if U.S. sanctions against Russia are toughened because of the Ukraine crisis.

"These rumours are groundless. This situation (sanctions) has neither an effect on our activity in Russia, nor on our investment plans in Sakhalin-1. We have no other plans than to go ahead with the project," the official said.

Russian Energy Minister Alexander Novak said he had "no information" that ExxonMobil might leave the project.

(Reporting by Denis Pinchuk and Katya Golubkova, Writing by Jason Bush, Editing by Timothy Heritage)

Copyright 2016 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Production Engineer
Expertise: Production Engineering
Location: Houston, TX
Senior Sales Representative - Oil and Gas
Expertise: Corrosion Engineering|Petroleum Engineering|Sales
Location: Harvey, LA
Gas Storage Reservoir Engineer
Expertise: Petroleum Engineering
Location: Houston, TX
search for more jobs

Brent Crude Oil : $50.79/BBL 1.30%
Light Crude Oil : $49.96/BBL 1.10%
Natural Gas : $2.77/MMBtu 2.12%
Updated in last 24 hours