The Chayvo Onshore Oil Treatment Facility, the core infrastructure of the Sakhalin-1 project, which receives products from all drilling sites TOKYO, Mar 4Minister of Economy, Industry and Trade of Japan Koichi Hagiuda called Sakhalin-1 an important project, the Kyodo news agency reported. ExxonMobil. On Wednesday, American oil and gas giant ExxonMobil announced that it had begun working out steps to exit the Sakhalin-1 project due to the situation in Ukraine, where Russia is conducting a military operation. ExxonMobil is managing the Sakhalin-1 project on behalf of an international consortium of Japanese, Indian and Russian companies.ExxonMobil, headquartered in Texas, is one of the world's largest privately owned oil companies with sales of liquefied natural gas and petrochemicals in China, and operates two lubricants facilities.The Sakhalin-1 project is underway under the terms of a production sharing agreement Exxon Neftegas Ltd is the operator of the project with a 30% share (» Exxon Neftegaz Limited, a subsidiary of ExxonMobil), Rosneft — 20%, Japanese Sodeco — 30% and Indian ONGC — 20%. Russia launched a military operation in Ukraine early in the morning on February 24. Russian President Vladimir Putin called it the goal of «protecting people who have been subjected to bullying and genocide by the Kiev regime for eight years.» For this, according to him, it is planned to carry out «demilitarization and denazification of Ukraine», to bring to justice all those responsible for «bloody crimes against civilians» in Donbass. In response, the United States, EU countries and a number of other states have imposed new sanctions against Russia and major Russian organizations. million barrels of oil from its reserves
