Russia Says Output Recovery at Sakhalin 1 Depends on Exxon

September 7, 2022

© tkyszk / Adobe Stock
© tkyszk / Adobe Stock

Russia's energy minister said on Wednesday the recovery of oil production at the Sakhalin-1 oil and gas project in Russia's Far East would depend to a large extent on the position of ExxonMobil, Russian news agencies reported.

ExxonMobil said in an August filing that it was in the process of transitioning its 30% stake in a Russian oil development "to another party", joining several other Western energy firms in seeking to exit Russian operations.

Energy Minister Nikolai Shulginov also said the government would like to see an oil production recovery this year, and that he expected Russian gas company Novatek to take part in the Sakhalin-2 liquefied natural gas (LNG) project.


(Reuters - Reporting by Reuters; Editing by Edmund Blair)



Current News

Kazakhstan’s Oil Output Drops 3% in May vs April to 1.55 mln bpd - Sources

Kazakhstan’s Oil Output Drops 3% in May vs April to 1.55 mln bpd - Sources

BW Offshore Agrees Extensions for Two FPSOs in Africa as Divestment Talks Continue

BW Offshore Agrees Extensions for Two FPSOs in Africa as Divestment Talks Continue

Why is OPEC+ Cutting Oil Output?

Why is OPEC+ Cutting Oil Output?

New Zealand: MN1 Offshore Well Restarts Oil Production After Year-Long Shutdown

New Zealand: MN1 Offshore Well Restarts Oil Production After Year-Long Shutdown

Subscribe for OE Digital E‑News

Offshore Engineer Magazine