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Sovcomflot ensures transportation of oil in Sakhalin projects in full

CEO Igor Tonkovidov added that efficient cooperation with new operators had been established

ST. PETERSBURG, September 25. /TASS/. Sovcomflot ensures transportation of oil in Sakhalin-1 and Sakhalin-2 projects in full, Chief Executive Officer Igor Tonkovidov said in an interview with TASS.

"Foreign operators of Sakhalin-1 and Sakhalin-2 projects have left their projects. We have established efficient cooperation with new operators and we stably ensure safe transportation of oil that is produced at both those projects in full," he said.

Last year Russia decided to transfer Sakhalin-1 and Sakhlin-2 projects to the Russian jurisdiction. Foreign participants were offered to notify Moscow on consent to assume ownership over shares in new operator companies in accordance with their previous allocation formula. Shell that had 27.5% in Sakhalin-2, and ExxonMobil with 30% in Sakhalin-1 pulled out of Russian projects. ExxonMobil almost suspended production at the project in the spring of 2022, though the new operator resumed it. In September, Governor of the Sakhalin Region Valery Limarenko said that production of oil and gas condensate at those projects would increase by 20-25% in 2023, while production at Sakhalin-1 reached full capacity in March 2023.

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