The Russian Government is considering a possibility to replace the operator of Sakhalin-1oil and gas project - Exxon Neftegas. Yesterday, the auditor of the Accounting Chamber Michael Bezkhmelnitsyn said that the operator had exceeded the project cost until 2055 by 2,2 times - from $ 42.8 to $ 95.3 billion.
"Today, they (foreign operators) could be replaced by Russian companies," RBC Daily quoted Mr. Bezkhmelnitsyn as saying. However, he said, the government is not considering the withdrawal of the license.
The Finance Ministry has not yet approved the Exxon Neftegaz’s estimates of expenditures for the current year, RBC Daily reports citing a source in the Ministry, as the expenditures and the project structure are expected to be reviewed.
Sakhalin-1 project is being developed by Exxon Neftegas, owned by U.S. ExxonMobil, and Japanese Sodesco, who own 30% of the shares. Rosneft and India's ONGC hold a 20% stake in Sakhalin-1 project. The Sakhalin-1 fields reserves are estimated at 307 million tons of crude oil and 420 billion cub m of gas.
The Finance Ministry has not yet approved the Exxon Neftegaz’s estimates of expenditures for the current year, RBC Daily reports citing a source in the Ministry, as the expenditures and the project structure are expected to be reviewed.
Sakhalin-1 project is being developed by Exxon Neftegas, owned by U.S. ExxonMobil, and Japanese Sodesco, who own 30% of the shares. Rosneft and India's ONGC hold a 20% stake in Sakhalin-1 project. The Sakhalin-1 fields reserves are estimated at 307 million tons of crude oil and 420 billion cub m of gas.