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Far East oil and gas development project "Sakhalin 1"
.
On October 13, the Russian government issued a government decree signed by Prime Minister Mishustin setting up a new company to take over the Far East oil and gas development project "Sakhalin 1", and foreign investors were required to notify Russia whether to agree to join the new company
within one month of its establishment.
Kyodo News reported on the 14th that the signing date of the government order was the 12th
.
A subsidiary of Rosneft, a Russian enterprise that invested in Sakhalin 1, was designated as the core enterprise responsible for production activities to ensure the influence of the Russian government on the operation of the project
.
The new company will be located in Yuzhno-Sakhalinsk, Russian Sakhalin.
"Sakhalin 1" is developed
by US oil giant ExxonMobil, Rosneft, Japan's Sakhalin Oil and Gas Development Company, and Indian Oil and Gas Corporation.
Japan's Sakhalin Oil & Gas Development Company owns 30% of the interests, and the investors include the Ministry of Economy, Trade and Industry, ITOCHU Corporation, Marubeni, the Petroleum Resources Development Company and the resource development giant INPEX
.
After the outbreak of the Russian-Ukrainian conflict, ExxonMobil, which also has a 30% interest, announced its withdrawal
in March.
Crude oil production on Sakhalin 1 has practically ceased
.
Russian President Vladimir Putin signed a presidential decree
on October 7 establishing a new company to take over the Sakhalin 1 project.
In addition, the Russian side has also decided to transfer the Sakhalin 2 project to the new company
.
In response, British oil giant Shell chose to withdraw, and Japan's Mitsui & Co.
and Mitsubishi Corporation said they planned to invest in the new company and have obtained the consent of the
Russian side.
Japanese Minister of Economy, Trade and Industry Yasuji Nishimura said on October 9 that the Japanese government will explore specific countermeasures
based on consultations with relevant people.
