Equinor covers liabilities on Kharyaga PSA, exits project

MOSCOW. Sept 2 (Interfax) - Equinor has completed its exit from the Kharyaga production sharing agreement project in Russia, the Norwegian company announced.

"As part of the exit from Kharyaga, Equinor has in compliance with applicable sanctions covered decommissioning liabilities accrued and owed by Equinor over the years," the company said.

As a result, Equinor said it no longer has any assets or projects in Russia.

The Kharyaga project produced 1.56 million tonnes of oil in 2021. The operator of the field is Zarubezhneft - Dobycha Kharyaga, which had a 40% stake before foreign companies announced their exit from the project. TotalEnergies held 20%, Equinor owned 30% and Nenets Oil Company had 10%.