On 19 August, Sakhalin Energy LLC, the new operator of the Sakhalin-2 project, commenced its operations.
As per the RF Government Regulation “On measures to implement Decree No. 416 of the President of the Russian Federation of 30 June 2022”, the rights and obligations, as well as the personnel of Sakhalin Energy have been transferred to the new organisation, with the effective value proposition left unchanged, the company said in a statement.
“Sakhalin Energy LLC has been fully operational in terms of production and business activities. Our key principles, which are safety, health and care for our personnel as well as ensuring sustainable and reliable production, remain an absolute priority for us together with fulfilling all existing obligations,” MD Andrey Oleinikov said.
According to the company statement, the Sakhalin-2 project infrastructure facilities maintain steady oil and gas production. Hydrocarbon production and export are running smoothly in line with the schedule approved for 2022.
While remaining the largest taxpayer in the Sakhalin Oblast, Sakhalin Energy has substantial cash reserves to meet all its short-term and long-term financial liabilities to its personnel, the Russian party and contractors.
Photo: Sakhalin Energy