Sakhalin Energy Begins Drilling Offshore in Russia
The $20b Sakhalin II project is developing the Piltun-Astokhskoye and Lunskoye oil and gas fields on the island's northeastern shelf, with recoverable reserves of 150 million metric tons (1.1 billion barrels) of oil and 500 billion cubic meters of gas. The project's shareholders are Russian energy giant Gazprom (50%), Royal Dutch Shell (27.5%) and Japan's Mitsui (12.5%) and Mitsubishi (10%). Source: RIA Novosti