ONGC, its partners to decide on operating in Russian project

News:ONGC Videsh said the company and its partners will decide on how to keep operating the Sakhalin 1 project over next few weeks, after Exxon Mobil's decision to exit Russia's oil & gas sector .

Views: ONGC Videsh has 20% stake in Sakhlin 1 Project and contributes ~ 27% of oil and ~ 14% of gas to total production of ONGC Videsh (OVL). In case of nil production from the field, it will impact production volume of OVL. Given high oil prices currently, higher realisation will partially negate impact on its potentially lower volume

Impact: Neutral