Sakhalin Energy Becomes First Offshore Producer In Russia

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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