Sakhalin-1 Expects Planned Oil Output Cut in 2008

Participants in the Sakhalin-1 project offshore eastern Russia expect a planned reduction in oil production in 2008, Igor Afanasyev, director of the company’s field development department, said during a presentation, according to Interfax news agency.

“This is a planned reduction; it is envisioned in the technical projections,” he said.


Sakhalin-1 shareholders plan to meet in Houston in early December to discuss the output reduction, Afanasyev said, but will not discuss issues related to gas production.

Participants in Sakhalin-1 include Rosneft, India’s Oil and Natural Gas Corp (ONGC), Sakhalin Oil and Gas Development Co and US energy giant Exxon Mobil Corp.

AFX