Exxon will invest $ 5 billion in increasing oil production in Sakhalin

Over the next five years, Exxon intends to invest $ 5 billion to stabilize and increase oil production in Sakhalin. This was announced by the Governor of the Sakhalin Region Valery Limarenko at the Far Eastern Energy Forum “Oil and Gas of Sakhalin.” In the region, over 70% of oil and condensate production falls on the Sakhalin-1 project. Since 2020, according to Mr. Limarenko, oil and condensate production in the region tends to decline. The Governor considers it necessary that “the international consortium of investors in the Sakhalin-1 project take measures to stabilize production levels and further gradually increase it in the medium term.” “As we know, Exxon plans to invest about five billion US dollars “, – said Mr. Limarenko (quoted by” RIA Novosti “). Also, according to him, within the framework of the Sakhalin-2 project, Sakhalin Energy continues to actively develop fields. The company does not intend to reduce the level of investments, noted….

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