ExxonMobil to terminate Kara Sea well following US intervention

Offshore staff

IRVING, Texas – ExxonMobil says it is complying with all US sanctions against Russia in its drilling off the country’s north coast.

The company says that due to the complexity of the Universitestkaya-1 exploratory well – the first ever in the Kara Sea – and the sensitivity of the arctic environment, the US Treasury has granted a license to ExxonMobil and other US contractors and persons involved to enable the safe and responsible wind down of operations related to the well.

ExxonMobil adds that all activities related to the wind down will proceed as safely and quickly as possible.

09/22/2014

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