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ExxonMobil’s role within Russia

Financial Times: ExxonMobil’s role within Russia

By Tom Cirigliano

Published: August 10 2004

From Mr Tom Cirigliano.

Sir, While your Comment & Analysis article of August 5 keenly addresses the importance Russia plays on the international oil scene, I am concerned that the reference to the fact that “analysts say that ExxonMobil . . . has a relatively small presence in Russia” leaves your readers with a wrong impression of ExxonMobil’s truly significant investment in the country. ExxonMobil is one of the largest investors in Russia as operator of the $12bn-plus Sakhalin 1 Project. The fact that Shell’s smaller Sakhalin 2 project is mentioned in the article adds to this impression.

More than 5bn oil-equivalent barrels are expected to be produced from the multi-phase Sakhalin 1 development, with first oil expected as early as next year.

Tom Cirigliano, Media Relations Manager, Exxon Mobil Corporation, Irving, TX 75039, US and its sister websites,,,,, and are all owned by John Donovan. There is also a Wikipedia article.

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