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Exxon sees Sakhalin reaching full capcity in a month

Stuart McGill.jpg

Exxon Mobil Corp. Senior Vice Presdent Stuart McGill on Wednesday told Reuters the company expects production at its Sakhalin-1 project in Russia to reach its current full capacity of 250,000 barrels of oil equivalent per day within a month.

Earlier in the day, McGill told a Goldman Sachs energy conference that Sakhalin-1 was producing over 200,000 barrels of oil equivalent per day (boepd) at year-end and continues to ramp up.

Sakhalin-1, which is also owned by Rosneft, ONGC, and a Japanese consortium, is being closely watched after Gazprom took the majority stake in Sakhalin-2 from Royal Dutch Shell in a move that many analysts say amounts to a renationalization.

© Reuters

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