Norway’s Equinor transferred stakes in four joint ventures to Russian oil major Rosneft and signed the agreement to leave the Kharyaga project, the company said, Trend reports with reference to TASS.
"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.
"The exit from all Joint Ventures has been completed in accordance with Norwegian and EU sanctions legislation related to Russia," Equinor noted.
The company decided to initiate the process of withdrawal from its joint ventures in Russia on February 27. "Since then, Equinor has halted all new investments into Russia, stopped trading oil and gas products from Russia and announced an impairment of $ 1.08 billion on the balance sheet as of 31 March 2022," the Norwegian company added.