MOSCOW, October 5 (RIA Novosti) - Russian Prime Minister Mikhail Fradkov congratulated the president of U.S. oil company ExxonMobil Wednesday on the start of operations in Sakhalin. "We can use our meeting as an opportunity to discuss your activities on the Russian market," Fradkov said during a meeting with Rex Tillerson.

"You have visited Sakhalin, and I congratulate you on the start of work [there]."

"The global economy regards ExxonMobil with respect," the premier said, adding that the Sakhalin-I project was just beginning.

The ExxonMobil-led Sakhalin-I project is designed to develop the Arkutun-Dagi, Odoptu, and Chaivo deposits on the island's northeastern shelf. Their recoverable reserves are estimated to total 2.3 billion barrels of oil and 17.1 trillion cubic feet of natural gas.