Support The Moscow Times!

Sakhalin-1 Budget Deal?

The government may resolve a dispute over this year’s budget for the ExxonMobil-led Sakhalin-1 oil and gas project in two to three weeks, Energy Ministry Sergei Shmatko said Tuesday, RIA-Novosti reported.

Exxon Neftegas, the operator, has been seeking a $3.5 billion budget for 2010, while Russia has approved spending of only $1 billion on its Chaivo and Odoptu fields, the news service said.

The Sakhalin-1 partners include state-controlled Rosneft and ONGC Videsh, which each own 20 percent. Japan’s Sakhalin Oil & Gas Development owns 30 percent, and Exxon holds 30 percent.

(Bloomberg)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.