The Ministry of Energy announced the stoppage of production at Sakhalin-1 under a far-fetched pretext
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Production at Sakhalin-1 was stopped under a far-fetched pretext, the Russian Ministry of Energy hopes for a speedy resolution of the situation. Such a statement did Minister Nikolai Shulginov in an interview with TASS at the Eastern Economic Forum 2022.
“As for Sakhalin-1, the story is already more complicated, since production was stopped, from our point of view, under a far-fetched pretext. Now we are waiting for a decision,” Shulginov said.
He added that the operator is currently underway and the project participants are making efforts to restore production in a short time. “I think everything should become clear in the near future,” the minister summed up, speaking about the fate of the project.
At the same time, Shulginov does not expect problems with Sakhalin-2 to arise. According to him, “all necessary measures have been taken to prevent the deterioration of its work.” In particular, the Sakhalin Energy operator was created.
In March, the ExxonMobil operator announced its withdrawal from Sakhalin-1. The company also recalled its employees who worked in oil and gas projects in Russia. Later, Rosneft said that the operator, without agreement with other parties, began a gradual reduction in production from April 26. Since May 15, the activity of the enterprise has been almost completely stopped. In July, Yury Trutnev, presidential envoy to the Far Eastern Federal District, said that due to the restrictions imposed, production was reduced by 22 times – to 10,000 barrels per day.
Sakhalin-1 is one of the largest Russian offshore production projects, which is being developed under production sharing agreements. Rosneft owns 20% in the project, ExxonMobil 30%, Japanese Sodeco 30%, and Indian ONGC Videsh 20%. The project operator is Exxon Neftegaz Limited. Sakhalin-1 produces more than 11 million tons of oil per year.
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