17:46 | 23/ 10/ 2006
MOSCOW, October 23 (RIA Novosti) – Russia does not seek to revoke the license of the Sakhalin II oil and gas project in Russia’s Far East, the Russian foreign minister said Monday.
Russia signed the Sakhalin II production-sharing agreement in 1994 with Sakhalin Energy, an investment company controlled by oil major Royal Dutch Shell. The company recently raised its cost estimate for the project, thereby putting off the date by which the Russian government will receive a share of the profits.