ExxonMobil

According to sources of the publication, on Wednesday, in Moscow ExxonMobil President Rex Tillerson will meet with Finance Minister Anton Siluanov, Energy Minister Alexander Novak, Deputy Prime Minister Arkady Dvorkovich and President of Rosneft Igor Sechin.

The main topic of the conversation will be the situation around the project “Sakhalin-1” where ExxonMobil is the operator and owns a 30 percent stake (the Japanese Sodeco owns 30 percent, Rosneft – 20 percent, the Indian ONGC – 20 percent). The American company wants to return the money that is overpaid as income tax within the project.

Exactly how much ExxonMobil expects to return, sources of the publication do not know exactly. The amount is in the ballpark of tens of billions of rubles.

“Sakhalin-1” got to the break-even level in 2008, and since 2009 its stakeholders have been paying income tax at a rate of 35 percent. Meanwhile, in general, in Russia, since 2009 income tax was reduced to 20 percent. Newspaper sources claim that ExxonMobil has been trying to change its income tax rate since 2009. However, previously, the company did not insist on its position because the situation was calm.

However, the sanctions imposed in 2014 dramatically changed everything. The main areas of cooperation were frozen by the fall, and ExxonMobil estimates its losses in Russia as 1 billion dollars and about two months ago it raised the issue of income tax, threatening to among other things appeal to the Stockholm arbitration.

“Sakhalin-1” is the first large-scale offshore projects implemented in Russia under the terms of the production sharing agreement. The document was signed in 1996.

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