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Exxon: Sakhalin-1 to reach capacity output


The Sakhalin-1 project will reach its capacity of 33,000 tons of oil per day, the project's operator, Exxon Neftegaz Ltd., said Tuesday.

The Itar-Tass news agency said the first tanker was loaded with oil at De Kastri terminal in the Khabarovsk Territory in mid-October 2006 and more than 2 million tons have been shipped over the past three months to Japan, South Korea and India.

Oil output on the Sakhalin Island and offshore last year reached 5 million tons.

Last week, Russian regulators said they will inspect Sakhalin-1 in late February or March to see if ENL was complying with environmental law.

ENL operates the Sakhalin-1 project, which is expected to produce 12.5 million tons of oil annually for 40 years. The project includes SODECO, ONGC Videsh, Sakhalinmorneftegaz and RN Astra.

The project is the largest foreign investment in Russia and capital investment over the life of the project could reach $12 billion.


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