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Russia says signs out-of-court settlement with Exxon on Sakhalin-1

Reuters

MOSCOW (Reuters) - Russia and U.S. oil major Exxonmobil <XOM.N> have signed an out-of-court settlement agreement regarding a legal dispute over the Sakhalin-1 oil and gas project, Russia's finance ministry said in a statement on Thursday.

"The sides have reached a mutually beneficial compromise," the ministry said, adding that the agreement was signed on Sept. 12.

Russian President Vladimir Putin said on Sept. 7 that the dispute had been resolved.

(Reporting by Darya Korsunskaya; Writing by Polina Devitt; Editing by Andrew Osborn)