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Russia’s Sakhalin 1 Oil Operations Disrupted by Western Sanctions on Insurance: ONGC

June 14, 2022

Operations at Russia’s Sakhalin 1 oil project will continue to face disruptions for “a couple of months” as Western sanctions have hit insurance cover for ships to transport crude, according to India’s ONGC Videsh, a stakeholder.

ONGC Videsh, the overseas investment arm of India’s top oil explorer Oil and Natural Gas Corp., has a 20% stake in Sakhalin 1, which produces a Russian grade known as Sokol off the coast of Sakhalin Island in the Russian Far East.

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