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Rosneft Delegation Took Part in Sakhalin Oil & Gas Conference

23 September 2014

Rosneft delegation took part in Sakhalin Oil & Gas conference that takes place in Yuzhno-Sakhalinsk, Rosneft vice-president Vlada Rusakova delivered a speech at the conference.

In her speech she highlighted that Sakhalin is one of priority regions of Rosneft’s production activity. Sakhalin-1 is the biggest offshore project, within the framework of which Chaivo, Odoptu, Arkutun-Dagi fields are being developed. On September 4 of this year Rosneft started the development of the Northern Chaivo Field, broadening the Company’s production on the shelf of the Okhotsk Sea. The commissioning of the North-Veninskoye field is scheduled on 2018.

The start of basic gas deposits development as part of the so-called second stage will be an essential part of Sakhalin-1 project realization. The opportunity to monetize these gas deposits is provided by Rosneft’s new infrastructure project on the island – the Far Eastern LNG. The main preconditions of the first Company’s LNG project are: the existence of a necessary resource base with proven reserves, and the presence of prospective sites on the Sakhalin’s shelf.

The Far Eastern LNG project is a part of the unified processing train from gas production to shipment of final product to be sold for export.

Gas supplies are planned to be delivered from the Northern Chaivo and the North-Veninskoye fields of Sakhalin-1 project. The total resource base is 584.4 bcm of gas. Basing on the proven reserves, the project capacity of LNG is determined to be 5 mln tons per year. It is also planned to conduct a comprehensive program of geological exploration on the company’s license areas on the Okhotsk Sea shelf to transfer vast gas resources totaling 2.1 tcm of gas into reserves to ensure the supplies on second and third stages of plant.

This August the authorities of the Sakhalin Region approved the Declaration on intentions to invest in the project. The site in the Tomarinsky District near Ilyinsky village was chosen to be a basic variant for building the plant. All the preliminary approvals from the municipal bodies and licenses for engineering surveying were received, at the moment the field stage is finished and the data interpretation is being conducted. In 2018-2019 it is supposed to commission the first processing train of the plant with a capacity of 5 mln tons per year.

Information Division,
September 23, 2014