BP will invest $5bn in developing the Sakhalin-5 project, the British company reported. Rosneft and BP have signed a corresponding framework agreement. According to the accord, the companies will retain their current stakes in the project (Rosneft has 51 percent and BP has 49 percent). Over $150m will be allocated for exploration drilling, which is planned to be completed by 2008.
The first well will be drilled this year within the Sakhalin-5 project. Reserves within this project are estimated at 700m to 800m tons of oil and 600bn cubic meters of gas.
The massive explosion at the port of Beirut occurred due to the detonation of 2,750 tons of ammonium nitrate, which was seized in 2014 from the ship Rhosus