No Surprise in Sakhalin-3 Developments

Russian state-owned company Rosneft plans will take part in the tender organized by the Natural Resources Ministry for the geological exploration of hydrocarbon fields in the Sakhalin-3 project, according to Rosneft President Sergei Bogdanchikov.

Of course, Mr. Bogdanchikov supports the government's decision to invalidate results of the tender for the right to develop fields of the Sakhalin-3 project. "Since 1992-1993, Sakhalin-3 remained without progress. Our attempts (as minority shareholder in the project) to accelerate the work of ExxonMobil on the project failed. I think that the government has demonstrated huge patience during the ten years of complete idleness by the investor on this project," remarked Bogdanchikov.

Mr. Bogdanchikov added, "Although our company as a participant of Sakhalin-3 suffered too, we have no claims against the government."