Exxon Working on Sakhalin-1 Exit

Exxon Mobil XOM.N is working with its partners on the U.S. company's exit from the Sakhalin-1 oilfield in eastern Russia, its head of upstream operations said on Tuesday. Production from the giant field, which Exxon operates and in which it owns a 30% stake, has been largely shut in because of western sanctions against Russia, Liam Mallon told the Energy Intelligence Forum conference in London.

"We continue to work very diligently with the Russian Federations and our partners ... to progress our exit," Mallon said, adding that discussions were "intensive."

(Reporting by Ron Bousso/Editing by David Goodman)

Current News

UK Bags $10B Japanese Investment for Offshore Wind and Hydrogen Projects

UK Bags $10B Japanese Investme

Staatsolie Takes Back Offshore Oil Block in Suriname as Hess Exits

Staatsolie Takes Back Offshore

With 'Indication of Interest', Argeo Suspends Bankruptcy Decision

With 'Indication of Interest',

Empire Energy, Ellevo Set Up Joint Offshore Wind Lifting and Transport Unit

Empire Energy, Ellevo Set Up J

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine