Project Profile
Value: $5,000 Million
Startup Year: 2012
Upstream Oil Reserves: 4,532 million bbl
Water Depth: 150m
The Sakhalin 3 is divided into two independent projects
1: Development of the Kirinsky and Veninsky blocks
2: Development of the East-Odoptinsky and Ayashsky blocks
Within the Sakhalin III project Gazprom operates in three blocks: Kirinsky, Ayashsky, and Vostochno-Odoptinsky. The Kirinsky block comprises the Kirinskoye gas and condensate field together with the Yuzhno-Kirinskoye and Mynginskoye gas and condensate fields discovered by Gazprom.
Gas from the Sakhalin III project forms the main resource base for the Sakhalin – Khabarovsk – Vladivostok gas transmission system.
The Sakhalin-3 project will be for the development of the East-Odoptu block with probable reserves of 70 million tonnes oil and 30 bcm gas, the Ayashsky block with 97 million tonnes oil and 37 bcm gas and the Kirnsky block with 453 million tonnes oil, 700 bcm gas and 53 million tonnes gas condensate.
The oil resources at the Veninsky block are estimated at 169.4 million tonnes, and gas - 40 billion cubic metres. The Veninsky licence zone covers about 5,300 square km of the Sea of Okhotsk with a depth of from 25 to 150 metres. The seismic material has identified six prospective structures at the block. The plans are to develop the field through drilling of five horizontal wells from a proposed onshore drilling facility.
Operators:
Rosneft: 74.9% interest in Veninsky Block
Sinopec (China Petroleum and Chemical Corporation): 25.1 % interest in Veninsky Block
Repsol YPF: 25% interest in the project