ExxonMobil Begins Production at the Sakhalin-1 Arkutun-Dagi Field

• Arkutun-Dagi production to reach 90,000 barrels per day
• Total Sakhalin-1 daily production to exceed 200,000 barrels

IRVING, Texas--(BUSINESS WIRE)-- Exxon Mobil Corporation (NYSE:XOM) announced today that production has begun at the Sakhalin-1 project’s Arkutun-Dagi field – the last of the three fields to be developed. Peak daily production from the field is expected to reach 90,000 barrels.

The field, located off the northeast coast of Sakhalin Island in the Russian Far East, will bring total daily production at Sakhalin-1 to more than 200,000 barrels. The other two fields – Chayvo and Odoptu – began production in 2005 and 2010, respectively.

Production from Sakhalin-1’s Arkutun-Dagi field will be routed through the existing Chayvo onshore processing facility on Sakhalin Island and delivered through pipelines to the De-Kastri oil export terminal located in Khabarovsk Krai, Russia.

Exxon Neftegas Ltd. is the Sakhalin-1 Consortium operator with 30 percent interest. Coventurers include Sakhalin Oil and Gas Development Co. Ltd., with 30 percent interest, and affiliates of Rosneft, the Russian state-owned oil company, RN-Astra with 8.5 percent, Sakhalinmorneftegas-Shelf, with 11.5 percent, and ONGC Videsh Ltd. with 20 percent.

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CAUTIONARY STATEMENT: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, capacities and production rates could differ materially due to changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments; reservoir performance; technical or operating factors; the outcome of future commercial negotiations; and other factors discussed in Item 1A of ExxonMobil’s most recent Form 10-K and under the heading “Factors Affecting Future Results” on the Investor section of our website at exxonmobil.com. The term "project" as used in this release does not necessarily have the same meaning as under any government payment transparency reporting rules.

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Source: Exxon Mobil Corporation

Released January 19, 2015