Continued production and additional development of the Sakhalin-1 Project
First written in FY2017. 1 of 6 entries say "Mitigated", first in FY2019. Latest entry: FY2023-Q3.
No other company in this theme has enough history to compare yet.
- FY2023-Q3AdvancedAnnual report
「Regarding the Sakhalin 1 Project, the Russian federal government established a new company, and the contractual rights and obligations under the production sharing agreement were transferred to the new company. With permission from the Russian federal government, SODECO will be able to continue participating in the Sakhalin 1 Project by acquiring an interest in the LLC in proportion to its participating interest. However, the impact on the Sakhalin 1 Project and the amount of the impact on the financial position, operating results and cash flows from the following quarter onward are currently under review.」
It was disclosed that, following the transfer of the contractual rights and obligations to the new LLC, SODECO obtained permission to acquire an interest and became able to continue participating in the Sakhalin 1 Project. - FY2023-Q2ReframedAnnual report
「Regarding the Sakhalin 1 Project, the Russian federal government established a new company, and the contractual rights and obligations under the production sharing agreement were transferred to the new company. With permission from the Russian federal government, SODECO will be able to continue participating in the Sakhalin 1 Project by acquiring an interest in the LLC in proportion to its participating interest. However, the impact on the Sakhalin 1 Project and the amount of the impact on the financial position, operating results and cash flows from the following quarter onward are currently under review.」
The Sakhalin 1 Project shifted to a framework in which the contractual rights and obligations were transferred to a new company established by the Russian government, with SODECO's continued participation subject to permission to acquire an interest and an assessment of the impact. - FY2022WorsenedAnnual report
「In response to the escalating situation in Ukraine, US-based ExxonMobil, the operator of the business, announced on 1 March 2022 that it intended to withdraw from the business.」
The Sakhalin 1 Project shifted from a situation in which continued production was described to one involving the operator's intention to withdraw and the possibility of business constraints resulting from economic sanctions. - FY2020RestatedAnnual report
「In the Sakhalin 1 Project, additional development work is under way at oil and gas fields currently in production.」
The Sakhalin 1 Project continues to produce and undergo additional development. - FY2019MitigatedAnnual report
「As of the end of the fiscal year ended March 2018, our debt guarantee balance was ¥4,871 million, but the guarantees were fully released on 22 May 2018.」
Regarding the Sakhalin 1 Project, our outstanding debt guarantees of ¥4,871 million were fully released on 22 May 2018. - FY2017First statedAnnual report
「The project declared commerciality in October 2001 and moved into the development stage after receiving approval from the Russian government. It began exporting to Japan in October 2006, when full-scale crude oil production began at the Chayvo oil and gas field, and continues to produce and sell steadily. Crude oil production also began at the Odoptu oil and gas field in September 2010 and at the Arkutun-Dagi oil and gas field in January 2015.」
The Sakhalin-1 Project is described as making progress in its overseas business through continued production and sales at multiple oil and gas fields and additional development.