Support The Moscow Times!

BP Leaving Sakhalin-5

BP is leaving the Sakhalin-5 project, which Rosneft will continue to develop on an independent basis, Rosneft president Eduard Khudainatov said Monday, Interfax reported.

"We didn't conceal this and have said BP isn't interested in the project. But we're very interested. We won't offer this to anybody else," he said. Khudainatov said gas had been discovered at the project's field. "We really need the gas for our projects, including the eastern petrochemical complex," he added. Rosneft's president also said the company is not in negotiations with ONGC for the Sakhalin-3 project.

Rosneft also expects to sign a deal with ExxonMobil on operating in North America, Khudainatov added. "We're already rounding off due diligence, I'm hoping it'll be February," he said.


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.