A Russian contractor has secured a large order from the companies involved in the Sakhalin-2 oil and gas project.
Sakhalin Energy, the project operator, said Friday that the Russian-based company of Tekhnostroieksport would be involved in construction of a coastal technological centre slated for the second phase of the project.
Sakhalin Energy has signed a $250-million contract with the BETS joint venture, which apart from Tekhnostroieksport, involves the US Becktel and Turkish ENKA companies. The Russian contractor will get $150 million of the contract total amount.
"The contract for construction of the coastal technological centre is yet another step towards boosting Russian companies' involvement in Sakhalin-2. Russian companies have already secured Sakhalin-2 contracts totalling close on $2 billion. We expect the project's second phase to bring forth construction contracts worth about $4.5 billion," said Sakhalin Energy.
The development of the Piltun-Astokh offshore oil field marked the launch of the project in 1999. The second stage envisages the mounting of another platform on the same field and further development of the Lunsk field. The latter started to be developed in May 2003.
The project will cost an estimated $10 billion.
The head of Russian Technologies, Sergei Chemezov, clarified the fate of anti-aircraft guided missiles that Russia was supposed to deliver to China
The Basmanny Court of Moscow arrested Michael Calvey, the founder of Baring Vostok investment fund, on allegations of embezzling 2.5 billion rubles from Vostochny Bank. Calvey will be held in custody until April 13