Daily Production at Sakhalin-1 Increased by 1.8 Times, Igor Sechin Said
Daily production at Sakhalin-1 increased by 1.8 times in the first quarter, becoming the driver for the growth of Rosneft’s hydrocarbon production, but the forced shutdown of the project due to the departure of the American ExxonMobil had a negative impact on the technical conditions for field development, the head of Rosneft said Igor Sechin.
“In the first quarter of 2023, despite the deterioration of the external environment, Rosneft was able to demonstrate an increase in production volumes, both liquid hydrocarbons and gas. The main growth driver was the Sakhalin-1 project, within which daily production increased by 1 8 times quarter to quarter,” Sechin said in a Rosneft release on the financial and operational results of the first quarter.
“I should note that the forced downtime after the departure of the American company ExxonMobil from the position of the project operator had a negative impact on the technical conditions for field development,” he added.
The head of Rosneft also noted that pressure on the company’s performance in the reporting quarter was exerted by tax changes that came into force in January, an embargo on petroleum products by a number of unfriendly countries, introduced in February in addition to the embargo on oil, as well as the restriction of oil production in country since March. “The influence of the last factor is not so significant in the reporting quarter, but it will significantly affect the indicators of the next one,” Sechin said.
