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Archive for October 9th, 2006

Gazprom excludes partners

Gazprom, the Russian state-run natural gas monopoly, said Monday that it alone would develop the country's biggest untapped natural gas deposit, spurning offers from five Western producers to exploit the $20 billion Shtokman field.
Gazprom's chief executive, Alexei Miller, told state television that the company did not need "international participation." Chevron, ConocoPhillips, Norsk Hydro, Statoil and [...]

Monday, October 9th, 2006

ONGC scraps first Sokol crude sale tender

Oil and Natural Gas Corp. (ONGC) has decided not to award its first tender to sell Sokol crude oil from Russia's Sakhalin-1 oilfield after receiving low bids, an ONGC official said on Monday.
The official said that ONGC planned instead to bring the cargo, which was due to load around Nov. 20, to its majority owned [...]

Monday, October 9th, 2006

Exxon’s Sakhalin partner says no talks on PSA change

The Exxon-led oil project off Russia's Sakhalin island is not holding talks on moving from its current production sharing deal (PSA) to the national tax regime, a project member said on Monday.

"We are not considering any switch to the national tax regime. We consider our PSA to be a document which has the force of [...]

Monday, October 9th, 2006

Sakhalin offshore resources: millions and billions

Sakhalin offshore resource base makes it possible to reach annual production level of 90 million tons for oil and over 20 billion cubic meters of gas.
This was announced by Rosneft's Head Sergey Bogdanchikov who spoke at the Far Eastern International Economic Forum.

Monday, October 9th, 2006

Output from Exxon Russia field to decline from 2008

Oil output from the Exxon Mobil-led Sakhalin-1 project will peak in 2007 and start to decline immediately afterwards partly because it failed to agree with Russia to extend the field's territory, a project member said on Monday.
Lev Brodsky, head of Sakhalin projects at Russian state oil firm Rosneft, which is part of Sakhalin-1, told a [...]

Monday, October 9th, 2006

Audit Body Says Exxon Broke PSA

The Audit Chamber said Friday that the ExxonMobil-led Sakhalin-1 energy project had broken many terms of its production sharing agreement.
The agency, which supervises the use of government finances, said in a statement that the group had started oil production two years later than expected and still had no clear gas export plans.
The agency has no [...]

Monday, October 9th, 2006

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