Sakhalin-1 Project Drills World’s Longest Extended-Reach Well

• Sets record at 40,502 feet (7.67 miles)

IRVING, Texas - Saturday, January 29th 2011 [ME NewsWire]

(BUSINESS WIRE)-- Exxon Mobil Corporation (NYSE:XOM) announced today that its subsidiary, Exxon Neftegas Limited, has successfully drilled the world’s longest extended-reach well at the Odoptu field, offshore far east Russia. Exxon Neftegas is the operator of the Sakhalin-1 Projecton behalf of an international consortium that includes affiliates of the Russian state company Rosneft RN-Astra and Sakhalinmorneftegas-Shelf; the Japanese corporation SODECO; and the Indian state oil company ONGC Videsh Ltd.

The Odoptu OP-11 well reached a total measured depth of40,502 feet (12,345 meters or 7.67 miles) to set a world record for extended-reach drilling (ERD). The Odoptu OP-11 also set a world record with a horizontal reach of 37,648 feet (11,475 meters or 7.13 miles). Exxon Neftegas completed the record-setting well in only 60 days using ExxonMobil's Fast Drill Process and Integrated Hole Quality technology to maximize performance in every foot of hole drilled at OP-11.

Odoptu, one of three Sakhalin-1 Project fields, is situated 5 to 7 miles (8 to 11 kilometers) offshore northeast Sakhalin Island. The ERD process enables onshore drilling beneath the seafloor to the offshore oil and gas reservoirs to successfully operate in a safe and environmentally responsible manner in one of the most challenging sub-arctic environments in the world.

“ExxonMobil, through Exxon Neftegas Limited, continues to successfully develop and operate the Sakhalin-1 oil and gas project to maximize economic recovery of this world-class resource,” said Neil Duffin, president, ExxonMobil Development Company. “The application of ExxonMobil technologies and processes has been instrumental in the success of this objective.”

Since the first Sakhalin-1 well was drilled in 2003, six of the world’s 10 record-setting ERD wells have been drilled at the project. The specially designed Yastreb rig has been used throughout, setting multiple industry records for measured depth, rate of penetration and directional drilling.

Since startup, the Sakhalin-1 project has produced approximately 300 million barrels (39 million tons) of oil for export to world markets. It also has been a key supplier of approximately 235 billion cubic feet (6.8 billion cubic meters) of associated natural gas to customers in Khabarovsk Krai, in far eastern Russia, to heat homes and meet growing energy needs. The project will continue to help meet future natural gas demand in this region.

Note to Editors

Sakhalin-1 includes the Chayvo, Odoptu, and Arkutun Dagi oil and gas fields located off the northeast coast of Sakhalin Island in the Russian Far East. Potential recoverable resources are 2.3 billion barrels (307 million tons) of oil and 17.1 trillion cubic feet (485 billion cubic meters) of natural gas.

More information on the Sakhalin-1 Project can be found on http://www.sakhalin1.com.

CAUTIONARY STATEMENT: Statements in this release regarding future events and conditions are forward-looking statements. Actual future results, including project plans and schedules and resource recoveries, could differ materially due to changes in long-term oil and gas price levels or other market conditions affecting the oil and gas industry; political or regulatory developments; timely completion of development plans; reservoir performance; technical or operating factors; the outcome of commercial negotiations; and other factors discussed under the heading "Factors Affecting Future Results" posted in the "Investors" section of our website (www.exxonmobil.com).

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