The government approved the rules for the sale of Exxon’s stake in Sakhalin-1 to a legal entity from the Russian Federation

The Russian government has approved the rules for the assessment and sale of the share of the American oil company Exxon in the Sakhalin-1 oil and gas project. According to resolutiona Russian legal entity that meets the criteria approved by the government can participate in the selection for the purchase of a share.

The document published on the official Internet portal of legal information states that the assessment of Exxon’s share will be carried out by the B1-Consult company. The assessment must be approved by the government, after which the Federal Property Management Agency will organize a selection of companies vying for Exxon’s assets. The legal entity that offers the highest price becomes the winner of the selection.

The oil and gas projects Sakhalin-1 and Sakhalin-2 were transferred to Russian jurisdiction in 2022. The Russian authorities provided foreign shareholders with the opportunity to continue participating in projects. The American Exxon and the British Shell emerged from them. At the same time, in particular, the Japanese Sodeco and the Indian ONGC remained in the projects.

Erdni Kagaltynov