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ONGC to ship first Sakhalin-I oil to Mangalore in December

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State-run Oil and Natural Gas Corporation (ONGC) will ship its first ever crude oil from Russia's Sakhalin-I project to Mangalore in the first week of December and will sell two other cargoes to Exxonmobil of US.

"Our entitlement from Sakhalin-I is three parcels of 700,000 barrels each in October-December. The first cargo will be processed at ONGC's subsidiary Mangalore Refinery and Petrochemicals Ltd, while two other would be sold to Exxonmobil," a company official said.

The first parcel of 90,000 tonnes is expected at Mangalore Port around December 2, he said.

ONGC Videsh Ltd, the overseas arm of ONGC, will get 2.4 million tonnes of crude in 2007 from Sakhalin-I in lieu of its 20 per cent stake in the project.

Sakhalin-I project will reach the peak rate of 12 million tonnes per year once a new onshore crude processing unit is commissioned in December.

Output from the Chayyo field being developed by the Sakhalin-I partners, will fall to 9 million tonnes in 2012, rise back to 12.5 million tonnes in 2014 and then decline once more after 2017 to as little as 6 million tonnes per year in 2023.

The official said the consortium was looking at commissioning the Odoptu field as well as Arkutun-Dagi field ahead of schedule to maintain the production. The current schedule provides for the Odoptu and Arkutun-Dagi fields to be put on line in 2009 and 2015, respectively.

Operator Exxonmobil has 30 per cent stake, while other partners include Japan's Sakhalin oil and gas development co (30 per cent) and Russian state-owned oil company Rosneft (20 per cent).

© Zee News

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