Sakhalin Energy has increased “Vityaz” oil shipping by 10% - up to 6.1 mln tons in 2010.

In 2010 Sakhalin Energy (The Sakhalin-2 operating company) extracted and shipped more than 6.1 million tons of “Vityaz” oil from the Prigorodniy port terminal, 10% more than in 2009, the company reports. Oil was shipped to 14 clients in 2010: Japan (33.9%), Korea (33,6%), China (24,8%), Phillipines (1,6%), USA (1,5%) and Thailand (1,6%). “Vityaz” oil is a new sort of oil, supplied by Sakhalin Energy. Analysts characterize this kind of oil as “a light, sweet oil, in quality close to the light oil from Oman ”. The LNG Industrial Plant produced more than 10 milion tons of LNG in 2010 while the projected capacity was 9.6 million tons. The increase was achieved due to the “structural optimization of the work process, the widening of some “narrow points” and an equipment tune-up”. In 2010 LNG was supplied to Japan (61.27% of the overall production)  Korea (30.34%), China (3,26%), Kuwait (0.65%) and Taiwan (4.49%).

Saklalin Energy’s net profit of 68.435 billion roubles rose by 3.9% in 2010 in comparison with 17.347 billion roubles in 2009. The revenue of the company of 184.802 billion roubles increased by 1.7 times in 2010 in comparison with last year. Sakhalin Energy’s shareholders are Gazprom (50%), Royal Dutch/Shell (27,5%), Mitsui (12,5%) and Mitsubishi (10%). In February 2009 in the framework of the “Sakhalin-2” project the first plant on LNG production with the capacity of 9.6 billion tons a year was launched.

In April 2007 “Sakhalin-2” board of directors approved the increase in the costs for the second stage for the project for the period untill 2014: from 11.5 to 19.4 billion dollars. In December 2009 they confirmed the 2010 costs at 1.5 billion dollars. The total cost of the “Sakhalin-2” project is around 20 billion dollars. The Piltun-Astokh and Lunskoye fields are the oil deposits for this project. The project's reserves are around 150 billion tons of oil and 500 billion cubic m of gas. Source:http://www.oilru.com/news/259998/ Translated by: Anastasia Edrenkina