London High Court rules Ukraine must repay $3 bln to RussiaBusiness & Economy March 29, 18:12
Russian energy minister pegs oil price at $70-100 as profitable for Arctic productionBusiness & Economy March 29, 18:02
Russian opera star Hvorostovsky announces two concerts in Toronto and DublinSociety & Culture March 29, 17:44
Russia's major natural gas producer says available reserves to suffice for over 20 yearsBusiness & Economy March 29, 17:38
Putin arrives in Franz Josef Land to size up Arctic environmental cleanupSociety & Culture March 29, 17:32
First in the world ice-class gas tanker comes to Arctic portBusiness & Economy March 29, 17:11
Eurovision broadcaster eyeing ban on Kiev from song contest over ‘unacceptable behavior’World March 29, 16:45
Diplomat slams calls to boycott 2018 FIFA World Cup as ‘campaign to contain Russia’Sport March 29, 16:34
How Russians conquered the Arctic in vintage photosBusiness & Economy March 29, 16:00
Berkut will be launched in December and produce up to 12,000 tonnes of oil daily. The platform is designed to operate in temperatures no lower than -44 degrees Celsius, with the wave height up to 18 meters and ice coverage up to two meters.
Sakhalin-1 is the oil and gas project which envisages the development of three fields - Chayvo, Odoptu and Arkutun-Dagi with the extractable reserves amounting to 2.3 billion barrels of oil and 485 billion cubic meters of natural gas. The project’s consortium has already invested $4.5 billion in the development of the project.
ExxonMobil is the Sakhlin-1 operator with a 30% stake. SODECO also owns 30% in the project, while Russian oil major Rosneft and ONGC hold 20% stakes each. The companies develop the Sakhalin-1 fields under a production sharing agreement.