The American oil giant ExxonMobil announced on Tuesday that it would gradually withdraw from a major oil field of which it is the operator in Russia and no longer invest in the country, thus following the example of certain international competitors.
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On behalf of a consortium comprising subsidiaries of the Russian company Rosneft, an Indian company and a Japanese company, ExxonMobil has been managing the Sakhalin-1 project since 1995, located in the very east of the country, in northern Japan, and in owns 30%.
“In response to recent events, we are beginning the process of shutting down activities and taking steps to gradually exit” from this oil project, details the group in a press release.
In view of the situation, he also chose not to invest in new projects in Russia.
The American group is thus following the example of certain international competitors, such as the British groups Shell and BP, which have also planned to part with their shares in several joint projects with Russian companies.
The French TotalEnergies leaned more towards the status quo by choosing not to leave Russia, but not to invest more money there.
ExxonMobil stresses that its withdrawal will not be immediate.
“As the operator of Sakhalin-1, we have an obligation to ensure the safety of people, the protection of the environment and the integrity of operations,” detailed the group.
“The shutdown process will need to be carefully managed and closely coordinated with co-venturers to ensure it is executed safely,” he adds.
The Sakhalin-1 project is the only major project on which ExxonMobil was still present in Russia, the group having withdrawn from two joint ventures following the imposition of previous sanctions once morest Russia in 2014.
The group recently indicated on its website that it also has offices in Moscow and Saint Petersburg and has around 1,000 employees there.
