Oil production at Sakhalin-1 fell 22 times amid sanctions

Oil production within the framework of the Sakhalin-1 project, due to the imposed sanctions, decreased by 22 times – to 10 thousand barrels per day. This was announced by the Plenipotentiary Representative of the President of Russia in the Far Eastern Federal District. According to the plenipotentiary, the reduction in oil production affected the budget of the Sakhalin region, as well as the state of the economy of the entire Far East and Russia.

“As for the Sakhalin-1 project, due to the restrictions imposed, for a number of reasons, which we will also talk about today, oil production at the project has decreased by 22 times – from 220 thousand barrels per day to 10 thousand barrels per day. day,” Trutnev said at a meeting in the government of the Sakhalin Region (TASS quote).

The plenipotentiary presented a forecast according to which, against the backdrop of a reduction in oil production, the budget deficit in 2023 of the Sakhalin Region will not receive 38 billion rubles. This is 26% of the level of all incomes in the region. The plenipotentiary noted that due to the reduction in production, the characteristics of the deposits are also deteriorating. According to him, this can “significantly affect the reduction in the oil recovery factor”, and a large amount of oil “will remain in the reservoirs.”

The operator of the Sakhalin-1 project is Exxon Neftegas Ltd with a 30% stake. Another 30% belongs to the Japanese Sodeco, 20% each belongs to Rosneft and the Indian ONGC. Japan retained its share in the Sakhalin-1 and Sakhalin-2 projects, but decided to reduce oil imports from Russia as part of the sanctions.

“Sakhalin-1” became the leader in reducing oil production among three Russian projects implemented jointly with foreign companies. In second place in terms of reduction is Sakhalin-2. On the third – Kharyaga PSA-project.

More news in Telegram channel “Kommersant”.

Anastasia Larina


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