The Sakhalin Region to increase oil extraction by 11% and gas extraction by 14% by 2016

By 2016 the Sakhalin Region is going to increase oil extraction by almost 11% (compared to the result expected in 2013) and gas extraction by almost 14% due to the solving the technological problems at the acting shelf deposits and implementation of new deposits.

As reported by the Minister of Regional Economic Development, Sergey Karpenko, for the first 9 months of 2013 the region has extracted 10.1 million tons of oil – by almost 4% less than for 9 months of 2012. Gas extraction has made up 20.1 billion cubic metres, having increased by 2.6%. The largest gas extraction was provided by Sakhalin-1 and Sakhalin-2. 8 million tons of LNG from Sakhalin-2 project have been exported (almost at the level of 9 months of 2012).