New operator of Sakhalin 2 project, Sakhalin Energy LLC, commences operation
Stable oil and gas production ensured within the framework of the project infrastructure
New operator of Sakhalin 2 project, Sakhalin Energy LLC, has commenced its operation today, 19 August 2022, according to the statement of the Russian company.
In pursuance of the Russian President’s executive order signed on June 30 (No 416), the new structure will take over the rights and obligations of the previous operator as well as its personnel with the preservation of its social support and remuneration terms.
“Sakhalin Energy is carrying out its production and economic activities in full. Our absolute priority is still given to the key principles – personnel safety, health and care, maintenance of uninterrupted and reliable production while fulfilling all the current obligations,” said Andrey Oleinikov, head of the company.
Stable oil and gas production is ensured within the framework of the project infrastructure. Production and shipment of hydrocarbons to the buyers is underway without interruptions according to the previously approved schedule for 2022.
Sakhalin Energy LLC has sufficient spare finances to fulfill its short-term and long-term obligations to the personnel, the Russian side and contractors.
Shell earlier announced its plans to exit from the Russian projects. Shell holds 27.5% of Sakhalin 2 shares. Sakhalin 2 is a joint project on the Sakhalin island with Gazprom holding 50%, Mitsui – 12.5%, Mitsubishi - 10%.
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