Exxon Mobil Corp, with a 30% stake, was the operator of Sakhalin-1, a development in Russia’s Far East.
In April, Exxon took a $4.6 billion impairment charge for exiting its Russian activities, leaving Sakhalin-1 operation open for a takeover from a partner.In August, Putin issued the Presidential Decree 520 which Exxon said impedes the company to conclude the exit safely. Exxon’s head of upstream operations said on Tuesday it was still working with its partners on its exit.The Russian company Rosneft is a partner in the project along with ONGC Videsh, the overseas investment arm of India’s ONGC, and Japan’s SODECO.
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