The agreement on withdrawal from the Kharyaga PSA (Production Sharing Agreement) has already been signed. On Wednesday, May 25, according to a press release from the Norwegian oil and gas company.
“Equinor has transferred its stakes in four Russian joint ventures to Rosneft and is released from all future agreements and obligations. An agreement was also signed to withdraw from the Kharyaga project,” – said in the message. It is noted that the exit from all joint ventures has been completed in accordance with the anti-Russian sanctions legislation of Norway and the EU.
On February 27, Equinor decided to start the process of withdrawing from joint ventures in Russia. The company stopped new investments in the Russian Federation and trade in oil and gas products from Russia, and also announced a $1.08 billion asset impairment on its balance sheet as of March 31.
Equinor is an international energy company headquartered in Stavanger, Norway. Founded in 1972. Equinor has been operating in Russia for over 30 years. The company also owned 30% in the PSA for the development of the Kharyaginskoye field in Timan-Pechora.