ExxonMobil announces withdrawal from Russia
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The former operator of Sakhalin-1, after the creation of a new operator for the oil and gas project, announced that he was completely leaving Russia. Earlier, Kommersant wrote that production at Sakhalin-1 was suspended due to Exxon’s refusal to ship oil to Sovcomflot tankers.
“I can confirm that we got out safely. With two decrees, the Russian government unilaterally terminated our interests in Sakhalin-1 and the project was transferred to a Russian operator, ”said a company representative (quoted from TASS).
On October 7, Mr. Putin signed a decree on the creation of the Russian operator Sakhalin-1, according to which all rights and obligations of the existing operator Exxon Neftegas Limited will be transferred to LLC. On October 14, Sakhalin-1 LLC was registered, the managing company of which is Rosneft. Shares in the project are owned by Japanese Sodeco (30%) and Indian ONGC (20%). They must within a month confirm their agreement to take ownership of a proportional share in the new operator.
The former operator of Sakhalin-1 Exxon, whose share was 30%, in March announced plans to leave Russia due to a special operation. At the end of April, production at the project decreased, and in May it stopped. According to Kommersant, this happened due to Exxon’s refusal to ship oil to Sovcomflot tankers.
More about the situation – in the material “Kommersant” “There are no comrades at the risk and risk”.
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