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Itar-Tass: Billions to be invested in Sakhalin oil, gas projects in 2007

YUZHNO-SAKHALINSK, April 3 (Itar-Tass) – Investment in the offshore oil and gas projects Sakhalin-1 and Sakhalin-2 in 2007 will be 2.3 billion dollars, the press service the Sakhalin regional committee for foreign economic relations said on Tuesday.

One more oil platform called PA-B will be placed in the Sea of Okhotsk in the summer under the Sakhalin-2 project, an operator of which is the company Sakhalin Energy.

The platform will make complete a group of four sea platforms and one coast platform that will begin the oil and gas output in 2008.

The American corporation Exxon Neftegaz Limited, which is an operator of Sakhalin-1 project, owns the platforms Orlan and Yastreb.

The platforms Molipak, LUN-A and PA-B are to begin full-capacity operation in 2008 when a liquefied gas plant will be able to receive hydrocarbons from the platforms.

The plant is being built on the coast of the Aniva Bay in southern Sakhalin.

As all the platforms come to a rated capacity, the oil output in Sakhalin will be over 20 million tons a year and of liquefied natural gas 10 million tons.

Foreign investment in the Sakhalin region’s economy in 2006 was 5.4 billion dollars.

The year was a peak of the preparation for full-scale operation of the projects Sakhalin-1 and Sakhalin-2.

Exxon Neftegaz Limited has completed the construction of a 220 kilometer-long oil pipeline from the Chaivo hydrocarbon deposit in the Sea of Okhotsk to the port of De-Kastri on the coast of the Khabarovsk Territory.

Giant tankers come to the port for Sakhalin oil every three days.

Sakhalin Energy finished last year the modernization of the Molipak platform that has been producing oil since 1999 in the summer and fall when the Sea of Okhotsk is not ice-bound.

The round-the-year oil output will be begun at Molipak from 2007.

The LUN-A and PA-B platform will also operate in such regime.

The largest investors in the Sakhalin region in 2006 were the Netherlands (66.7 percent of all investment), India (10.2 percent), Japan (9.8 percent) and the Islands of the Bahamas (9.6 percent).

Companies of these countries are engaged in the Sakhalin offshore projects.

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