The U.S. Treasury Department, recognizing the complexity of the University-1 well and the sensitive Kara Sea arctic environment, has granted a license to ExxonMobil and other U.S. contractors and persons involved to enable the safe and responsible winding down of operations related to this exploration well.

The license recognizes the need to protect the safety of the individuals involved in these operations as well as the risk to the environment.

All activities related to the wind down will proceed as safely and expeditiously as possible.

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