Sakhalin-1 Oil and Gas Project

planned

The Sakhalin-1 project is an oil and gas development project in Russia. The project was effectively nationalized by the Kremlin in October 2022, leading to the withdrawal of the American company Exxon Mobil, which owned 30% and was the project operator. A new decree signed by Vladimir Putin in August 2025 allows foreign investors, including Exxon Mobil, to return to the project under conditions that they assist in lifting Western sanctions against Russia, sign contracts for necessary foreign equipment supply, and transfer money to the project's accounts. Rosneft operates the project through its subsidiary Sakhalinmorneftegaz-Shelf, and other foreign investors like India's ONGC Videsh and Japan's SODECO have retained their stakes.