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First tanker of Sakhalin-1 oil sent to India

A first tanker of oil from the Sakhalin-1 project was sent to India on Monday.

Tatiana Polishchuk, press secretary of the Sakhalin region international and interregional relations committee, told Interfax that this was announced at a meeting between the new director of the Sakhalin office of ONGC Videsh Rajiv Gupta and the committee's chairman Vadim Rokotov.

"Cooperation between the Indians and other participants in the Sakhalin-1 project is entering a very important phase, as two days ago a first tanker with 673,000 barrels of oil sailed for India from the oil dock at De-Kastri," Gupta said.

In turn, Rokotov said that participation by the Indian company in the Sakhalin-1 project is bringing Russian relations with that county to a new level, especially in the area of investment cooperation. Sakhalin region received a total of $1.6 billion in investment from India in the first nine months of this year, he said.

The De-Kastri export terminal has oil storage capacity and a single-point mooring that operates around the clock, supplying oil to international markets. The terminal has reservoirs with a capacity of 100,000 cubic meters (650,000 barrels) to store Sakhalin-1 oil prior to shipping. Daily shipping as part of the project will amount to up to 250,000 barrels of Sokol oil.

Sakhalin-1 participants include Exxon Neftegaz Ltd. (30%), ONGC (20%), Rosneft (20%) and SODECO (30%).

© Interfax

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