Sakhalin-1 Supports Small Business in Khabarovsk Krai

In May 2020, Exxon Neftegas Limited on behalf of the Consortium entered into an agreement with the Small Business Support Fund of Khabarovsk Krai and allocated 3.5 million rubles to the Fund, which will be used to finance small businesses in the Ulchi district, where the Company operates the oil export terminal at the De-Kastri settlement. The Fund will assist entrepreneurs by providing microloans on preferential terms.

The agreement with the Fund was signed for the first time. However, Sakhalin-1 Consortium comprised of the Russian oil company Rosneft, Japanese SODECO, Indian ONGC Videsh and Exxon Neftegas Limited, the Sakhalin-1 Operator, has been supporting entrepreneurship for more than a decade under the microcredit program implemented by the Government of Khabarovsk Krai and the Administration of the Ulchi municipal district.

“It is important that large companies work together to support small enterprises, especially in remote areas of the region. The Fund offers small businesses low rates on microloans, as well as a unique program for start-up entrepreneurs who have been working for less than 1 year, and other types of microloans that will help them start or develop their businesses. Owing to the agreement with Exxon Neftegas Limited, we will be able to allocate additional funds to support entrepreneurs of the Ulchi district,” said Natalia Shalimova, Director General of the Fund.

Since the launch of the program in 2009, and due to the support of the Sakhalin-1 Consortium, about 50 businesses have taken this opportunity and more than 100 additional jobs have been created in the Ulchi district. The recipients of assistance were entrepreneurs engaged in the production and processing of agricultural products, builders and timber processors, producers of consumer goods, as well as enterprises providing transportation, domestic, and social services to the population. In addition, retailers and vendors from poorly accessible villages and low-income communities were able to obtain support.

“There are more than 52 thousand small and medium-sized business entities in Khabarovsk Krai. Small enterprises pay taxes to budgets, create jobs, contribute to a sustainable economy, and provide better service. For Sakhalin-1, it is also an opportunity to use the services provided by local manufacturers,” said Margarita Tsoy, Vice President of ENL.

Entrepreneurs may apply for a microloan under any program of the Fund. Additional information can be obtained by visiting the official Website “fond27.ru”, as well as by calling the entrepreneurs’ hotline 8-800-555-39-09 or by phone 8 (4212) 752-777.