American oil and gas giant ExxonMobil said it is working on transferring operations on the Sakhalin-1 project to another party. This is stated in a company statement released on Wednesday, August 3.
“The Corporation announced at the beginning of 2022 that it plans to stop work on the Sakhalin-1 project. The Corporation continues to pay special attention to ensuring the safety of employees, production activities and the environment,” the company’s financial report emphasizes. About it Writes agency “Prime”.
The report is published on the website of the US Securities and Exchange Commission (SEC). ExxonMobil added that the company complies with all applicable laws and sanctions.
The American company ExxonMobil announced in early April that it had begun developing steps to withdraw from the Sakhalin-1 project. This decision was made because of the situation in Ukraine.
Sakhalin-1 is an oil and gas project managed by the American ExxonMobil on behalf of an international consortium of Japanese, Indian and Russian companies. The project is being implemented on Sakhalin Island under the terms of a production sharing agreement.