ExxonMobil Successful in Sakhalin

ExxonMobil announces that the Chaivo #6 appraisal well encountered an oil-bearing Miocene reservoir that flowed at a test rate of 6,000 barrels of oil per day. Ekhabi The well was drilled by Femco's jackup, Ekhabi, in 50 feet of water to a total depth of 10,089 feet. The Chaivo Field is located offshore of the northeastern coast of Sakhalin Island. ExxonMobil proprietary 3-D seismic technologies were used by a multinational team led by ExxonMobil and including Russian and Japanese geoscientists to delineate a large 340 foot oil column on the west flank of the Chaivo discovery.

Sakhalin I represents a world-class oil and gas development opportunity. Development planning activities and discussions on key government assurances necessary to allow the project to go forward continue to progress.

Exxon Neftegas Limited is operator for the multinational Sakhalin I consortium with a 30 percent working interest. Other co-venturers include the Japanese company SODECO with 30 percent, and Russian companies SMNG-Shelf with 23 percent and Rosneft-Sakhalin with 17 percent.

ExxonMobil Corporation has established a major position in the northeast Sakhalin shelf. In addition to Sakhalin I appraisal and operations, ExxonMobil is also actively involved in pursuing Production Sharing Agreements on the Sakhalin III Kirinskiy, Ayashskiy, and East Odoptinskiy license blocks.