Equinor withdraws from 4 joint projects with Rosneft

MOSCOW, May 25 (PRIME) -- Norway's Equinor has sold all its shares in the four joint projects that it had with Russian oil major Rosneft and has signed an agreement to withdraw from the Kharyaga project, the company said in a statement on Wednesday.

"Equinor has now transferred its participating interests in four Russian joint ventures to Rosneft and is released from all future commitments and obligations. An agreement to exit the Kharyaga project has also been signed," the company said.

Equinor decided to start the withdrawal from Russian business on February 27, froze new investments, stopped trading oil and gas products from Russia and announced an asset depreciation for U.S. $1.08 billion as of March 31, 2022.

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