The construction site of the drilling floor and under-water pipelines for the Sakhalin-1 joint Russian American oil and gas project on Sakhalin.
Photo: Aleksander Sidorov
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Rosneft Gets Closer to Sakhalin-1
Rosneft has launched a new project on the Sakhalin shelf, in Russia’s Far East. The oil company has secured an exploration license for the Lebedinskoye deposit, near the Odoptu field of the landmark Sakhalin-1 project. Experts say that the rights on the Lebedinskoye will probably make it possible for Rosneft to increase its 20 percent stake in Sakhalin-1.
Oil reserves of the Lebedinskoye field are estimated at 9.3 million metric tons. Its gas reserves total 2 billion cu. meters, according to the Resource Management Agency. The deposit is situated near the Odoptu field of the Sakhalin-1 project, run by Exxon Neftegas. This joint venture is owned by U.S. ExxonMobil (30 percent), Japanese SODECO (30 percent), India’s ONGC (20 percent) and Rosneft (20 percent).
Russia’s Natural Resources Ministry finished admitting applications on the exploration of the Lebedinskoye deposit on the Sakhalin shelf last Thursday. A tender for the license was not held because the state-owned Rosneft was the only applicant.
Exxon’s representatives met Russian officials early September, insisting that the Lebedinskoye is a part of the Odoptu deposit. Exxon strove to enlarge the Odoptu, afraid that the owner of the Lebedinkoye field will extract oil and gas from the beds of the Odoptu. Russian natural resources authorities, however, dismissed these claims.
Experts believe that Rosneft may use the new license to raise its stake in Sakhalin-1. If Rosneft gets licenses for two new deposits in the area, the company will be able to increase its shareholding in Sakhalin-1 by 5 percent, to have the blocking stake.
www.kommersant.com
All the Article in Russian as of Sep. 22, 2006
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