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Archive for October 12th, 2006

S.Korea says wants role in Sakhalin-3 field

South Korean Finance Minister Kwon O-kyu said on Thursday his country wanted to play a part in developing Russia's Sakhalin-3 oil and gas project, Russia's technical standards agency, RosTekhNadzor, said in a statement.
The statement gave no further details about South Korea's ambitions and did not give a direct quotation from Kwon, who was speaking at [...]

Thursday, October 12th, 2006

Foreign auditors shouldn’t be hired to audit Russian budget

Chairman of the Russian Audit Chamber Sergei Stepashin has spoken out against hiring foreign auditing companies to audit the use of the Russian budget after Sakhalin PSAs.
"I think it is a totally wrong idea to hire auditing companies, including foreign firms, to audit the use of the budget," he said on Thursday. "Despite the fact [...]

Thursday, October 12th, 2006

South Korea hopes to tap Russian energy resources

Seoul is extremely interested in taking part in developing energy resources in Russia, South Korean Ambassador to Russia Kim Jae Sup said on Wednesday in an interview with Interfax.
The South Korean national oil company is exploring for oil in western Kamchatka along with Rosneft, while the Korean national gas company signed an agreement on importing [...]

Thursday, October 12th, 2006

Natural resources minister to inspect results of Sakhalin II checks

Russia's natural resources minister will head a delegation on October 24-26 to examine the results of environmental inspections into the Sakhalin II oil and gas project in the country's Far East.
The vast hydrocarbon project, led by Anglo-Dutch oil major Shell, has met with strong opposition from environmental groups and authorities over accusations of inadequate safety, [...]

Thursday, October 12th, 2006

Sakhalin-1 Faces Delay Until ‘07

Federal authorities are still checking a new oil terminal built by the ExxonMobil-led Sakhalin-1 group and it may take two months before full operations are allowed, project members said Wednesday.

They also said full-scale oil production of 250,000 barrels per day could be delayed to the first quarter of 2007, from the end of this year, [...]

Thursday, October 12th, 2006

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