IRVING, Texas (Bloomberg) -- Exxon Mobil Corp. said the U.S. government is giving the company more time to shut its Russian Arctic well beyond the deadline for sanctions aimed at halting the $700 million project. Exxon asked Washington for an extension to allow it to continue performing shut-down work on the Universitetskaya-1 (University-1) well in Russia’s Kara Sea to make sure the well was safe before it’s temporarily abandoned. The Irving, Texas- based company already had ceased drilling the offshore well after U.S. sanctions set a Sept. 26 deadline for ending the work.
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Exxon gets U.S. sanctions reprieve to shut Arctic oil well
![Exxon gets U.S. sanctions reprieve to shut Arctic oil well]()
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