MOSCOW, 5 Apr. Russian President Vladimir Putin extended from four to 12 months the period for the sale of the unclaimed share of foreign participants in the new operator Sakhalin-1, follows from a decree published on the official Internet portal of legal information.
«The share in the authorized capital of the company, the transfer of which … was not carried out by the foreign party of the consortium, is subject to assessment by the Government … and sale in accordance with the established … procedure to a Russian legal entity that meets certain … criteria. The specified assessment and sale of the share are carried out Government … within one year from the date of the decision to refuse to transfer the share … or in the event that such a decision to refuse to transfer the share was not made,» the document says, amending the presidential decree of October 7.
The original version of the decree stated that the sale was to take place within four months.
In October 2022, the President of the Russian Federation ordered the government to create a new Russian operator of the Sakhalin-1 PSA project, which will receive the rights and obligations of the American Exxon Neftegaz limited. Rosneft's structure, Sakhalinmorneftegaz-Shelf, with a 20% stake in the project, became the manager of the new operator. Foreign participants, Japanese Sodeco and Indian ONGC, owning 30% and 20% in Sakhalin-1, respectively, confirmed their intention to stay. ExxonMobil) owned a 30% stake. In March 2022, the company announced that it was going to exit the project, and in April it introduced a force majeure regime, as a result of which the project almost stopped.
In early February of this year, the head of Rosneft, Igor Sechin, said that the project » Sakhalin-1″ is operating normally, production is rising, sales are on.