MOSCOW, Aug 30 (PRIME) -- The financial disagreements on the Sakhalin-1 project were a consequence of a decision by U.S. ExxonMobil to stop development, which generated losses, a representative for Russian oil major Rosneft said on Tuesday.
"The financial disagreements between the Sakhalin-1 project participants are the outcome of a unilateral decision by its operator to stop development, which only generates losses under the production sharing agreement. A return of Sakhalin-1 to normal production activity could create necessary conditions to solve all disputes," the official said.
Earlier on Tuesday, The Wall Street Journal reported that ExxonMobil had sent a notification to the government on disagreements on the project over the impossibility of the company to leave Sakhalin-1 after a new presidential decree entered in force. The company said it planned to turn to court if the situation was not solved in stipulated time.
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