Source Pravda.Ru

Exxon-Mobile Invest $4 Billion In "Sakhalin-1"

By the year 2005 four billion will have been invested in the first stage of realization of the Sakhalin - 1 project. "Realization of the first stage of the project will show the world community that the large international investment project successfully can be carried out in Russia", - the senior vice president of ExxonMobil Rex Tillerson has declared. On May, 10 he together with Nile Daffinom- the president of the company visited Yuzhno-Sakhalinsk for a meeting with the governor of the Sakhalin area Igor Farhutdinov. As he said, at the end of this year the consortium on "Sakhalin - 1" plans to begin preparations for an oil and gas recovery project. The project will include the world's largest installation for drilling the horizontal directed chinks will be established on the "Chaivo" deposit. The consortium plans to receive the first oil in 2005/2006. The total capital investments in the project will be around twelve billion dollars.

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