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By Denis Pinchuk
MOSCOW, June 14 (Reuters) - Exxon Mobil ChiefExecutive Rex Tillerson is to attend a major investment forum inRussia this week, two industry sources said, ending a two yearabsence from the event that began when sanctions were imposed onRussia over the crisis in Ukraine.
Tillerson is due to attend a session at the St. PetersburgInternational Economic Forum where Igor Sechin, head of Russianstate oil firm Rosneft, is listed as keynote speaker.Both Rosneft and Sechin are subject to Western sanctions.
A spokesman for Exxon Mobil declined to comment on whetherTillerson would be at the June 16-18 forum, which will also beattended by Russian President Vladimir Putin.
The annual forum is the marquee event in Russia's businesscalendar where investors seek the Kremlin's blessing for theirprojects. In the past few years, the guest list became abarometer of international investor appetite for Russian assets.
The number of high-profile Western investors and politicianscoming to the event dropped off sharply in 2014, after Russiaannexed Ukraine's Crimea Peninsula and backed pro-Moscowseparatists in eastern Ukraine.
This year, the numbers are recovering. Italian PrimeMinister Matteo Renzi is to attend, along with EuropeanCommission President Jean-Claude Juncker.
Western diplomats say businesses are looking to Russia againin anticipation that the sanctions will be dropped or softenedwithin the next year or so. They are also attracted by tentativesigns the Russian economy is emerging from its slump.
Tillerson's presence is particularly significant because hewill be the most high-profile representative of U.S. business ata time when Washington is taking a harder line than Europe onthe need to keep sanctions in place.
Tillerson is among other oil major chief executives on theforum agenda, including Robert Dudley of BP, ClaudioDescalzi from ENI, Schlumberger's PaalKibsgaard and Patrick Pouyanne of Total.
In 2014 Exxon was forced by the sanctions to suspend itsjoint operations with Russia's top oil producerRosneft ROSN.MM in the offshore Arctic Kara sea oil field, wherethey successfully performed exploration drilling.
The sanctions prevent Western companies from giving Russiatechnology for Arctic offshore, deepwater and shale oildevelopment. After Exxon stepping back, Rosneft has not resumeddrilling in the Arctic Kara Sea, citing the sanctions.
Exxon has also been involved in a joint oil and gas projectwith Rosneft, Sakhalin-1, which produces over 100,000 barrelsper day of oil. Sakhalin-1 is not subject to the sanctions.
In addition, Exxon and Rosneft are discussing a jointproject to build a liquefied natural gas plant in Russia's fareast.
Tillerson was last in Russia in 2015 for a meeting withRussian Energy Minister Alexander Novak. He missed the StPetersburg forum in 2014 and 2015.
According to the forum's Internet site, Tillerson attendedthe event for two consecutive years before the Ukraine crisis. (Additional reporting by Katya Golubkova; Writing by ChristianLowe; Editing by Alexandra Hudson)
