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Sakhalin Energy fulfils annual oil supply plan

Sakhalin Energy’s Mission and Vision statements set the framework for its business objectives and strategies

VLADIVOSTOK, December 26 (Itar-Tass) — The international company Sakhalin Energy that is developing hydrocarbons on the continental shelf of the Sea of Okhotsk, have fulfilled the 2011 plan of oil supplies to customers. Since the beginning of the year, the company has shipped from its moorings in the port of Prigorodnoye (South Sakhalin) 62 batches of oil. One standard batch is 700 thousand barrels or 111 thousand cubic metres of oil, the press service of Sakhalin Energy reported.

The company’s liquefied natural gas (LNG) plant has reached a record high daily production level – 34,989 tonnes of LNG. This is the highest figure since the plant’s putting into operation. Sakhalin Energy has also ahead of time fulfilled the annual plan of shipment of natural gas, sending to countries of the Asia-Pacific region 161 batches of gas. By the end of the year, the company plans to ship three more batches. One standard batch of liquefied natural gas is 145 thousand cubic metres.

Sakhalin Energy Investment Company Ltd. (Sakhalin Energy) is the operator of the Sakhalin-2 project under a Production Sharing Agreement with the Russian Federation. The company was formed in 1994 to develop the Piltun-Astokhskoye oil field and the Lunskoye gas field in the Sea of Okhotsk offshore Sakhalin Island in the Russian Far East, according to the company’s website.

Sakhalin Energy is a unique partnership drawing upon global oil and LNG expertise and experience. Under the shareholding structure of Sakhalin Energy, Gazprom holds 50 percent plus 1 share, Shell 27.5 percent, Mitsui 12.5 percent and Mitsubishi 10 percent.

Sakhalin Energy’s Mission and Vision statements set the framework for its business objectives and strategies.

The Mission: Sakhalin Energy is committed to being a premier energy supplier, recognised for its operational excellence, reliability and safety. We conduct our business in an ethically, socially and environmentally responsible manner. The Vision: To be the premier energy source for Asia-Pacific.

The company believes that oil and gas will be integral to global energy needs for economic development for many decades to come. Its role is to ensure that it extracts and delivers oil and gas profitably and in environmentally and socially responsible ways. Sakhalin Energy’s objective is to commercially develop, operate and market the hydrocarbon resources and associated infrastructure governed by the Sakhalin-2 licenses for the sustainable benefit of its Shareholders, the Russian Federation, the Sakhalin Oblast and the wider community.

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