Exxon will Head a Joint Venture to Develop Russia's Huge Offshore Sakhalin Oil Fields and a Pipeline by 2005

摘要

Clearing a logjam that has held up Western-led oil development in Russia for years, ExxonMobil of the US says it is ready to spend 4 billion dollars over five years to develop large offshore oil and gas fields in far-eastern Russia. Te project, which could grow to 12 billion dollars over its life of 30 to 40 years, will be Russia's largest single foreign investment so far.Recently the Russian government has been passing measures to clear the way for the project, which had languished since the mid-1990's waiting for new regulations and commitments to fixed tax rates that ExxonMobil called vital.