Sakhalin Energy Becomes First Offshore Producer In Russia

07/19/1999
Sakhalin Energy Investment Co. Ltd. (Sakhalin Energy) expects to begin production this month in the Sea of Okhotsk, becoming the first company to develop a Russian offshore field.The company will also become the first foreign enterprise to develop oil and gas resources in Russia under the new production-sharing agreement (PSA).There are two Sakhalin II PSA License Areas, each covering a large field discovered in the 1980s. Field development Click here to enlarge imageThe Lunskoye and Piltun-Astokhskoye fields contain combined reserves of about 1 billion bbl of liquids and 14 tcf of gas (Fig. 1). Lunskoye is capable of supplying a peak production rate of 1.5 bcfd, sufficient to support a ...
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