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Archive for October 23rd, 2006

OVL to get 2.4 mt from Sakhalin-I

India's share of crude oil from the Sakhalin-I project offshore eastern Russia, will reach 2.4 mt in 2007.
Oil output from the Sakhalin-I project, where ONGC Videsh Ltd (OVL) has 20% stake, is likely to swing partly because of the project consortium - led by Exxonmobil - has failed to agree with the Russian authorities on [...]

Monday, October 23rd, 2006

Chief of public spending watchdog calls for revising Sakhalin PSAs

Sergei Stepashin, director of Russia's Audit Chamber, called Monday for "a drastic revision" of production sharing agreements (PSAs) for the development of Sakhalin Island's oil fields.
The Audit Chamber is Russia's public spending and revenue watchdog.
However, the PSAs must remain in effect, he added.
The increase in Sakhalin Energy's Sakhalin-2 oil and gas project's costs would be [...]

Monday, October 23rd, 2006

No plans to revoke Sakhalin II license

Russia does not seek to revoke the license of the Sakhalin II oil and gas project in Russia's Far East, the Russian foreign minister said Monday.
Russia signed the Sakhalin II production-sharing agreement in 1994 with Sakhalin Energy, an investment company controlled by oil major Royal Dutch Shell. The company recently raised its cost estimate for [...]

Monday, October 23rd, 2006

Japan unlikely to win natural gas supplies from Sakhalin I

Japan is unlikely to receive natural gas supplies from the Sakhalin I resources project off Russia's Sakhalin Island, Takao Kitabata, Japanese vice minister of economy, trade and industry, said Monday.
The comments came as U.S. oil giant Exxon Mobil Corp., which heads the Sakhalin I project, has recently signed a memorandum with a Chinese firm to [...]

Monday, October 23rd, 2006

Russia to allow US, UK audits at controversial gas deposit

The chief of Russia's government accounting body Monday said he would invite the United States, Britain and Japan to inspect oil and gas operations on Sakhalin Island, where allegations of environmental violations have been made against Western firms. Sergei Stepashin, head of the Federal Accounting Chamber, said at a meeting in Moscow with visiting Japanese [...]

Monday, October 23rd, 2006

Russian minorities want ethnicity column returned to passports

After a decade of being relegated to the dustbin of political correctness, ethnicity may make a return to Russian passports - thanks to a chorus of minority groups in the country's wilds. The local legislature on Sakhalin Island, an oil- and gas-rich sliver just off Russia's Pacific coast, Monday petitioned Russian Prime Minister Mikhail Fradkov [...]

Monday, October 23rd, 2006

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