Russia’s gas giant Gazprom has achieved agreement with Sakhalin Energy on its participation in the Sakhalin-2 project, Itar-Tass reports.
The two parties signed a memorandum to this effect at a ceremony attended by President Vladimir Putin.
Gazprom will have a 50-percent-plus-one-share stake in the project, being carried out production sharing terms.
The two hydrocarbon fields in question, Piltun-Astokhskoye and Lunskoye, have estimated reserves of 150 million tonnes of oil and 500 billion cubic meters of natural gas.
The operator – Sakhalin Energy – was established by the by the Anglo-Dutch company Royal Dutch-Shell (55 percent), and Japan’s Mitsui (25 percent) and Mitsubishi (25 percent).
The project envisages the construction of two off-shore rigs, a gas liquefying plant having a capacity of 9.6 million tonnes a year, a gas condensate processing plant, two 800-kilometer long pipelines and an oil terminal.