Sakhalin-1 Oil and Gas Field Project
Sector: Oil and Gas • Location: Russia
Source: Offshore Engineer Magazine
India's Oil and Natural Gas Corp (ONGC) will retain its 20% stake in Russia's Sakhalin-1 oil and gas field project by paying into the project's abandonment fund in roubles, using Indian companies' frozen dividends. The abandonment fund is used for decommissioning activities to ensure proper well shutdown and environmental protection. ONGC Videsh Ltd and other Indian companies have been unable to r
Project Information FAQ
Project Information
Want to explore the full details? View the full report
Participants
Sponsoring Agency | Obfuscated Data |
Company | Obfuscated Data |
Status
Original status | ongoing |
Taiyo status | Obfuscated Data |
Taiyo last update | 00-00-0000 |
Available timestamps | 00-00-0000 |
Available timestamp type | Obfuscated Data |
Contact
Contact name | Obfuscated Data |
Phone | 0000000000 |
ObfuscatedData@email.com | |
Address | Obfuscated Data, Obfuscated data, obfuscated data, Obfuscated data |
Description
Description | India's Oil and Natural Gas Corp (ONGC) will retain its 20% stake in Russia's Sakhalin-1 oil and gas field project by paying into the project's abandonment fund in roubles, using Indian companies' frozen dividends. The abandonment fund is used for decommissioning activities to ensure proper well shutdown and environmental protection. ONGC Videsh Ltd and other Indian companies have been unable to repatriate about $800 million in dividends due to sanctions, and a loan from these dividends will be used to contribute to the fund. The project ownership was affected by Russian government actions following sanctions related to the Ukraine invasion, but a decree allows foreign investors to regain shares if they support lifting sanctions and fulfill certain conditions. |
Original sub-sector | Obfuscated |
Original Currency | USD |
Original budget | 000000000000000 |
Procurement method | Obfuscated Data |
Budget | 000000000000000 |
Location
Region | Obfuscated |
Country | Obfuscated |
State | Obfuscated Data |
County | Obfuscated |
Location | Obfuscated Data, Obfuscated data, obfuscated data, Obfuscated data |
Source
Source reliability | High |
Data quality score | 100% |
Source | Obfuscated Data |
URL | obfuscated_data,obfuscateddata.com |
More Details
Project Type | Obfuscated Data |
Article Published Date | Obfuscated Data |