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Dow Jones Newswires: Sakhalin Energy Signs 2 Services Contracts For $100 Million Each

Monday September 25th, 2006 / 9h37 

MOSCOW -(Dow Jones)- Sakhalin Energy said Monday it signed letters of intent for service provision during phases one and two of the Sakhalin II oil and gas project with two companies.

The contracts are valued at about $100 million each.

The first Letter of Intent for the long-term maintenance and services for the liquified natural gas plant and oil export terminal and an option for maintenance of further assets, was signed with SakhalinNefteGasServis.

SNGS is a newly-formed Sakhalin-based Russian enterprise combining the international experience of its partners Fluor and Dietsmann, and an experienced local contractor Dalelectromontazh, which is a Sakhalin-based enterprise.

The second letter of intent was signed with a joint venture comprising a Sakhalin company, SakhalinMorNeftemontazh and a USA-based company, VECO.

The scope of work will include maintenance and services for the three offshore platforms and an option for maintenance of further assets.

Sakhalin energy is a consortium of companies, including Royal Dutch Shell (RDSB), Mutsui Corp (8058.TO) and Mitsubishi Corp (8031.TO), which develops Russian oil and gas field on the far eastern island of Sakhalin.
 

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