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Archive for September 7th, 2006

Exxon warns Russia to honor Sakhalin deal terms

Exxon Mobil Corp. on Thursday issued a sharp warning to Russia to honor a decade-old production-sharing agreement to develop the Sakhalin-1 oil and gas block or risk undermining the confidence of foreign investors.
The statement came after Russia's resources ministry told Exxon it would not automatically enlarge the license territory of Exxon's Sakhalin-1 block, despite the [...]

Thursday, September 7th, 2006

ExxonMobil Announces Start of Sakhalin-1 Exports

Exxon Mobil Corporation announced today that its subsidiary, Exxon Neftgas Limited, has commissioned the crude oil export system for the multiphase Sakhalin-1 project offshore Russia, bringing to eight the total of ExxonMobil-operated startups within the last 12 months. These significant projects, located in the North Sea, Malaysia, Qatar and in West Africa, are expected to [...]

Thursday, September 7th, 2006

Russia Promises to Keep Existing PSAs, Says New Ones Unlikely

Russia will not abandon existing production sharing agreements with foreign oil and gas companies, but it is unlikely to pursue further such deals in the future, the country's Deputy Economy Minister Kirill Androsov said on Wednesday, Sept. 6.

Androsov also said he had no information supporting speculation that gas giant Gazprom might be seeking more than [...]

Thursday, September 7th, 2006

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