India receives first shipment of crude oil from Russia’s Sakhalin 1
India has received its first shipment of crude oil from Russia’s Sakhalin 1 oil fields. Petroleum Minster Murli Deora formally received oil tanker, MV Viktoritov carrying 100,000 barrels of crude oil on Saturday.
ONGC, the biggest investor overseas among the state-run oil firms owns 20 percent stake in the Exxon Mobil Corporation-led Sakhalin-1 field. ONGC aims to bring a million barrels of crude and oil equivalent gas per day from the Russian oil field. The field contains an estimated 2.23 billion barrels of oil and 17.1 trillion cubic feet of gas.
Sakhalin-1 is due to pump 250,000 barrels per day (bpd) by early next year.
The consignment of Sokol crude oil will be processed at the Mangalore Refinery and Petrochemicals Ltd (MRPL), an ONGC subsidiary for further distribution. The refinery recently commissioned a new Isomerisation unit built at a cost of 52 million dollars capable of producing Euro-IV grade petrol. MRPL is planning to expand its existing capacity 9.7 million tonne-a-year to 15 million tonnes by 2010.