The move comes shortly after Russian President Vladimir Putin signed a decree allowing ExxonMobil to revoke its stake in the Sakhalin-1 oil and gas project in Russian Far East.
Notably, this decision coincides with Mr. Putin meeting with US President Donald Trump in Alaska - a meeting that both sides consider an " important step forward" towards peace in Ukraine and opening up opportunities for Russia-US economic cooperation.
According to the US press, senior leaders of ExxonMobil have repeatedly held closed talks with Rosneft - the Russian state-owned oil and gas group and the largest shareholder in Sakhalin-1. In particular, Senior Vice President Neil Chapman met with Rosneft General Director Igor Sechin in the capital Doha (Qatar), although Mr. Sechin is still on the US sanctions list.
Whether ExxonMobil returns or not will depend on two key factors: the progress of the Russia-Ukraine peace talks and the terms set by Moscow. A source said the US corporation first wanted to recover the financial losses arising when withdrawing from the project in 2022.
Currently, ExxonMobil's stake in Sakhalin-1 has been transferred to Rosneft's subsidiary. However, Russia still considers ExxonMobil's technology, capital and management experience as the "key" to restoring this energy super project.
In addition to Rosneft ( major shareholder), the Japanese consortium Sodeco still holds a 30% stake, while the Indian state-owned ONGC Videsh company holds 20%.
Observers say that if President Donald Trump can promote a peaceful solution for Ukraine, ExxonMobil will likely become a "symbol" for economic connectivity between the US and Russia after many years of tense confrontation.
