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Exxon Russian venture likelyExxon Corp. is expected...

THE BALTIMORE SUN

Exxon Russian venture likely

Exxon Corp. is expected to sign a production-sharing agreement detailing terms to invest $15.2 billion in huge oil and natural gas fields off Russia's Sakhalin Island, an official of the company's Japanese partner said yesterday.

The agreement would clear the way for Exxon to begin work on the first of three such ventures being promoted by the Russian government off Sakhalin Island directly north of Japan, which is expected to consume much of the project's output.

The project would tap an estimated 2.5 billion barrels of oil and 15 trillion cubic feet of natural gas.

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