The Russian Government has given permission to six foreign ships for operation in the territorial waters of the Russian Federation until December 31, 2011. The vessels will be engaged in the offshore deposits development project "Sakhalin-2," the government official website said.
The $20 billion Sakhalin-2 project includes the development of the Piltun-Astokhskoye oil field and the Lunskoye natural gas field offshore Sakhalin Island in the Okhotsk Sea.
The project is managed and operated by Sakhalin Energy Investment Company Ltd. (Sakhalin Energy). Gazprom holds a 50% (+1) stake in the JV, Shell – 27.5%, Mitsui – 12.5% and Mitsubishi - 10%.