ONGC Finalized the Acquisition of a Stake in the Operator of the Sakhalin-1 Project
The Indian company Oil and Natural Gas Corporation (ONGC) has successfully completed the transfer of funds to the decommissioning fund of the Sakhalin-1 project in order to retain its 20% stake in the project. This was announced during a conference call with analysts by the Managing Director of ONGC Videsh …
Sakhalin-1 Contractor Wins $9.6 Million Lawsuit Against U.S. Firm Parker Drilling
The Moscow Arbitration Court has granted the claim of Sakhalin Drilling Services LLC against its former American owner — Parker Drilling Management Services, Ltd. (PDMS) — in the amount of $9.854 million (944 million rubles, according to the court’s calculation), according to the case file materials from the arbitration registry. …
Rosneft Surveyed Sakhalin-1 for Methane Emissions for the First Time in 2023
Rosneft conducted surveys at the Sakhalin-1 project facilities for the first time in 2023 as part of a comprehensive program to detect and eliminate sources of methane emissions, the company said in its sustainable development report. The surveys were conducted both at the Odoptu and Chaivo onshore oil and gas …
The Deadline for Selling the Unclaimed Share of Foreigners in Sakhalin-1 Has Been Extended Until the End of the Year
The deadline for selling the unclaimed share of foreign partners in the new operator of the Sakhalin 1 project has been extended until the end of 2024. On April 8, Russian President Vladimir Putin signed a decree amending Decree No. 723 of October 7, 2022, according to which the deadline …
ONGC Asked The Russian Federation to Help Formalize Its Participation in The New Operator Sakhalin-1
Indian ONGC is actively working to transfer its share of the assets of the liquidation fund of the Sakhalin-1 PSA project to a new operator (Sakhalin-1 LLC) and has turned to Russia for assistance, Vinod Hallan, chief executive officer for finance of ONGC Videsh Limited, said at a conference with …
India Has Not Received an Offer to Buy Exxon’s Stake in Sakhalin-1
ExxonMobil announced in March 2022 its withdrawal from the project and departure from Russia India has not received an offer to buy Exxon’s stake in the new operator of the Sakhalin-1 oil and gas project. Secretary of the Ministry of Petroleum and Natural Gas of India Pankaj Jain told reporters …
The Government Approved the Rules for the Sale of Exxon’s Unclaimed Stake in Sakhalin-1
On September 28, the Government of the Russian Federation approved the rules for the assessment and sale of shares in the authorized capital of the limited liability company Sakhalin-1. The text of the relevant resolution is at the disposal of Interfax. According to the document, the assessment of the share …
Indian ONGC Said It Wants to Get a Share of the Oil Produced at Sakhalin-1
CEO of ONGC’s investment division Rajarshi Gupta believes that negotiations with the Russian side and other shareholders could last six months The Indian company ONGC intends to produce oil as part of its share in the Sakhalin-1 project and expects that negotiations on this could take up to six months. …
Production at the Sakhalin-1 and Sakhalin-2 Projects Has Been Fully Restored
Production at the Sakhalin-1 and Sakhalin-2 offshore projects has been fully restored, Governor of the Sakhalin Region Valery Limarenko told reporters on Monday. “Production at Sakhalin-1 and Sakhalin-2 has fully recovered, this is the main joy that we have over the past month, we have received important information. We expect …
Oil and Gas Production at Sakhalin-1 Reached the Level Before the Start of the Special Operation
Oil and gas production at the Sakhalin-1 project, where work almost completely stopped almost a year ago due to force majeure declared by the American operator ExxonMobil, has returned to the level before the start of Russia’s special operation in Ukraine, Governor of the Sakhalin Region Valery Limarenko said during …