Newsletter
Weather
Community
English home Forum Photo Gallery Features Newsletter Archive   About US Help Site Map
China
World
Opinion
Business
Sci-Edu
Culture/Life
Sports
Photos
 Services
- Newsletter
- Online Community
- China Biz Info
- News Archive
- Feedback
- Voices of Readers
- Weather Forecast
 RSS Feeds
- China 
- Business 
- World 
- Sci-Edu 
- Culture/Life 
- Sports 
- Photos 
- Most Popular 
- FM Briefings 
 Search
 About China
- China at a glance
- China in brief 2004
- Chinese history
- Constitution
- Laws & regulations
- CPC & state organs
- Ethnic minorities
- Selected Works of Deng Xiaoping

Home >> Business
UPDATED: 08:48, October 04, 2005
India-invested Sakhailin-I oil field begins production
font size    

The Sakhalin-I field in far-east Russia in which India has a big stake began production of oil and gas Saturday, according to the Hindu newspaper Sunday.

The Indian ONGC Videsh Ltd (OVL), an overseas company of the Indian Oil and Natural Gas Corporation, bought a 20 percent stake in Sakhalin-I project for 1.7 billion US dollars in 2001. Last November, India approved 1.1 billion US dollars of additional investment in Sakhalin-I. The OVL plans to ship about 700,000 barrels of oil from the field to India from April next year.

The Sakhalin-I, which includes the Chayvo, Odoptu and Arkutun- Dagi fields, is to produce 23,000 barrels of oil and about 58 million cubic feet of gas every day and it is expected to produce some 12.5 million tonnes of oil and 10 billion cubic meters of gas annually at its peak production level.

The Total production of Sakhalin-I in its 40-year life cycle is estimated at 307 million tonnes of oil and 485 billion cubic meters of gas.

The Sakhalin-I consortium, which includes the stakes of Exxon Neftegas Ltd (operator) 30 percent, Japanese Sodeo-30 percent, Russian RN-Astra LLC-8.5 percent, and Russian Sakhalinmorneftgaz- Shelf-11.5 percent, has already hired five ice class tankers on a long-term charter.

Tankers will be delivered next year and the OVL will hire one of these to transport its share of output to India.

Source: Xinhua


Comments on the story Comment on the story Recommend to friends Tell a friend Print friendly Version Print friendly format Save to disk Save this


   Recommendation
- Text Version
- RSS Feeds
- China Forum
- Newsletter
- People's Comment
- Most Popular
 Related News

Online marketplace of Manufacturers & Wholesalers
 
Copyright by People's Daily Online, all rights reserved