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Extending Sakhalin-1 production sharing agreement for 30 years under discussion

December 06, 2017, 15:37 UTC+3 BADRA

Sakhalin-1 includes three offshore fields: Chaivo, Odoptu and Arkutun-Dagi located in the north-eastern shelf of Russia’s Sakhalin island

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BADRA, December 6. /TASS/. Extending the production sharing agreement (PSA) for the Sakhalin-1 project for 30 years was discussed, but the final decision should be taken by the Finance Ministry, Russian Energy Minister Alexander Novak told TASS.

"This topic was discussed," he said. The Minister noted that the Finance Ministry should make a decision on the issue.

Sakhalin-1 is the first large-scale offshore project in Russia implemented under the PSA conditions (concluded in 1996). Rosneft holds a 20% share in the project, ExxonMobil - 30%, SODECO - 30%, and ONGC Videsh Ltd. - 20%.

Sakhalin-1 includes three offshore fields: Chaivo, Odoptu and Arkutun-Dagi located in the north-eastern shelf of Russia’s Sakhalin island.

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