Sakalin-2 Begins "Active Work" from Today: Sakhalin Energy

The new Russian operator of Sakhalin-2 “began active work” today according to a press release by Sakhalin Energy.

• “Stable oil and gas production is being maintained within the context of the infrastructure of the Sakhalin-2 project. Production and shipment of hydrocarbons to buyers are proceeding without disruptions and according to the schedule approved for 2022," the release said.
• "Sakhalin Energy has a strong cash reserve to meet all financial obligations to staff, the Russian side and contractors in the short-term and long-term future," the company said.
• The company ownership has been transferred from a Bermuda based entity to a Russian company called Sakhalin Energy after Putin issued a decree in June.
• Japanese companies Mitsubushi and Mitsui are understood to be moving forward with their stakes in the project while Shell is in the process of offloading its stake. Sakhalin-2 is being carried out under a production sharing agreement according to the new company.