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Exxon Seeks to Double Sakhalin-1 Budget

Exxon Neftegas Ltd., the operator of the Exxon Mobil Corp.-led Sakhalin-1 field, is seeking to double the budget for the oil and gas project to $100 billion, Vedomosti said, citing unidentified government officials

Exxon Seeks to Double Sakhalin-1 Budget Exxon Seeks to Double Sakhalin-1 Budget

The Sakhalin-1 partners include state-controlled OAO Rosneft, Russia’s largest oil producer, and ONGC Videsh Ltd., which each own 20 percent. Japan’s Sakhalin Oil & Gas Development Co. owns 30 percent and Exxon holds 30 percent.

Source : Bloomberg