Lawsuit Against Rosneft and Claims Relating to the Sakhalin-1 Project
First written in FY2019-Q1. 1 of 3 entries say "Mitigated", first in FY2019-Q2. Latest entry: FY2019-Q3.
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- FY2019-Q3RestatedAnnual report
「Sakhalin Oil and Gas Development Co., Ltd., the Company's equity-method affiliate, had been sued by Russia's Rosneft (Rosneft) in the Sakhalin Regional Commercial Court, with the case accepted on 20 July 2018. The lawsuit was withdrawn at Rosneft's request on 2 November 2018.」
The Business and Other Risks section reconfirms that Rosneft's lawsuit against SODECO was withdrawn on 2 November 2018. This filing indicates no further procedural developments since the previous disclosure. - FY2019-Q2MitigatedAnnual report
「Sakhalin Oil and Gas Development Co., Ltd., the Company's equity-method affiliate, had been sued by Russia's Rosneft (Rosneft) in the Sakhalin Regional Commercial Court, with the case accepted on 20 July 2018. The lawsuit was withdrawn at Rosneft's request on 2 November 2018.」
Rosneft's lawsuit against SODECO was withdrawn on 2 November 2018, reducing the litigation risk disclosed previously. - FY2019-Q1First statedAnnual report
「Through its investment in Sakhalin Oil and Gas Development Co., Ltd. (SODECO), in which it held a 15.29% stake at the end of the fiscal year ended March 2018, the Company participates in the Sakhalin 1 project, an oil and natural gas development business offshore Sakhalin Island, Russia. SODECO was sued by Russia's Rosneft (Rosneft) in the Sakhalin Regional Commercial Court for allegedly receiving unjust profits. The lawsuit was accepted by the court on 20 July 2018, and the total amount claimed by Rosneft from SODECO was disclosed as RUB 26.7 billion.」
In connection with the Sakhalin 1 project, SODECO was sued by Rosneft, and the case was accepted on 20 July 2018. The total amount claimed was disclosed as RUB 26.7 billion.