Deadline for sale of foreign shares in Russia's Sakhalin-1 extended
MOSCOW, April 5 (Reuters) - Russia has extended the deadline for the sale of foreigners' shares in Russia's Sakhalin-1 oil and gas project, in which Exxon Mobil Corp was a major investor, according to a presidential decree published on Wednesday.
Vladimir Putin signed a decree in October establishing a new operator company for the Sakhalin-1 project, inviting Russian shareholders to apply for shares in the new company. ExxonMobil, which owned 30% in Sakhalin-1, left projects in the Russian Federation due to Moscow's special military operation in Ukraine.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
Prior to the creation of the new company, Exxon and a consortium of Japanese companies Sakhalin Oil and Gas Development Co (SODECO) each owned 30% of the project. Russian Rosneft and Indian ONGC Videsh owned 20% each.
The Japanese consortium and the Indian ONGC said they will remain with the project. (Reporting by Reuters; Editing by Jan Harvey and Mark Porter)