Source Pravda.Ru

Sakhalin oil and gas fields to get $1.2bn in investments

Investments in the Sakhalin-1 project will amount to $1.2bn next year, which is a 70 percent increase compared to 2002, a senior official of ExxonMobil declared at a press conference in Yuzhno-Sakhalinsk. According to him, a final budget for 2003 will be agreed to at a meeting of the supervisory board of the project in the middle of December 2002.

The project's operator, Exxon Neftagas Ltd., is planning to start constructing a horizontal well from the island's shore to the field Chayvo, a complex at the shore and a 367-kilometer oil pipeline to the De-Kastri port in the Khabarovsk region in the first quarter of 2003.

The Sakhalin-1 project's volume is estimated at 2.3bn barrels of oil and 485bn cubic meters of natural gas. On October 17, 2002 the Japanese Nippon Steel company made a contract totaling $400m on implementing the first stage of the project.

© &to=http://www.rbc.com' target=_blank>RBC

Comments
World honours bravery and courage of Russian pilot who killed himself in Syria
USA plays to pretend a mighty dragon that can no longer breathe fire
Russia unveils nuclear-powered interstellar spaceship
USA plays to pretend a mighty dragon that can no longer breathe fire
USA plays to pretend a mighty dragon that can no longer breathe fire
The Amazon and the New Conquistadores
Moving inexorably towards war
Capital outflow from Russia sets new records
US-led coalition strikes Assad's army in Syria
US-led coalition strikes Assad's army in Syria
US-led coalition strikes Assad's army in Syria
Moving inexorably towards war
USA plays to pretend a mighty dragon that can no longer breathe fire
Indian Origin of Egyptian Civilization
The difference between Polish and Ukrainian nationalism is plain to see
USA plays to pretend a mighty dragon that can no longer breathe fire
USA plays to pretend a mighty dragon that can no longer breathe fire
USA plays to pretend a mighty dragon that can no longer breathe fire
What weapons the USA, Russia and China may use in case of World War III
USA plays to pretend a mighty dragon that can no longer breathe fire
Sanctions do not stop foreign countries from buying Russia's S-400 systems