Which science field has the most promising future?

Computer science
Nanotechnology
Biotechnology
Aerospace engineering
Ecology, resource saving
Cleantech
Other

What is the mankind's most dangerous invention?

Atomic bomb
Drugs
Automobile
Money
Television
Fast food
Internet

Gazprom discovers huge oil deposits on Sakhalin

Russian business daily Vedomosti reported on February 20 that follow-up exploration of Gazprom’s Yuzhno-Kirinsky site on Sakhalin in Russia’s Far East has revealed 464 million tons of oil deposits. These are the largest reserves discovered on the project.

The initial estimates of gas deposits on the site were 563.2 billion cubic meters. Now the total volume is 682 billion cubic meters. This is more than the total volume of the gas extracted in Russia last year.

The new discovery will likely require Gazprom to change its plan for the development of the area. Gazprom had previously planned for the Yuzhno-Kirinsky site to be the resource base for the Vladivostok LNG plant, which was scheduled to begin operations in 2018. However, as a rule, in the case of adjacent oil and gas deposits, oil is extracted first. Now, taking into consideration the time needed to develop the new discoveries, launch of the projects could be pushed to 2019.

Apart from the Yuzhno-Kirinsky site, Gazprom has two more deposits in the “Sakhalin-3” project, which should yield 8-9 billion cubic meters of gas per year at peak capacity. However, these are meant to supply the Russian Far East, while deposits at Yuzhno-Kirinsky, the biggest of the three, are intended for export.

There are two other major projects already operating on Sakhalin, “Sakhalin-1” and “Sakhalin-2.” The “Sakhalin-2” development includes a LNG (liquefied natural gas) plant that produces fuel for the Asia-Pacific region. Rosneft and ExxonMobil plan to build a similar plant at “Sakhalin-1.” 

2014-02-26, Russia Beyond The Headlines.


Keywords: oil and gas industry, natural resources, Sakhalin Region, Gazprom

26.02.2014
Gazprom discovers huge oil deposits on Sakhalin
23.10.2013
$2Bln Polypropylene Plant Opens In Siberia
12.07.2013
Two St. Pete developers merge different technologies in one solution for oil and gas
10.07.2013
Russia Declassifies Oil Reserves to Lure Investment
05.07.2013
Venezuela, Russia Have Huge Investment Potential – Putin
01.07.2013
Japan interested in Russian energy resources
26.06.2013
Russia and China oil cooperation estimated at the unprecedented $270bn – Putin
26.06.2013
Alcoa and RUSNANO will produce aluminum drill pipes with antiwear coating
25.06.2013
11th Russian Petroleum Congress, Moscow, Russia
19.06.2013
Safe petrochemical site launched outside Nizhny Novgorod
17.06.2013
Lukoil’s eco-friendly technology helps produce oil deep under river bottom
11.06.2013
Russia ranks 1st in reserves of shale oil
27.05.2013
PdVSA, Rosneft Establish Joint Venture
23.05.2013
Space Images Reveal Over 10 New Siberian Oilfields – Scientist
20.05.2013
Rosneft to Invest $100 Mln in Vietnam Offshore Bloc

Leave your comment
Sign up
Enter verification codeEnter verification code

Second Moscow International Foreign Investment Forum
Most popular news
Annual Investment Meeting 2013

Welcome to Investment. Innovation. Business Web Portal – a community-driven platform for all the participants of the investment process both in Russia and abroad!

We work to provide online information exchange between Russian and global investors and innovators, business owners and developers.