21 Mar 2011 11:27

Rosneft to start production at Kaigano-Vasyukansky block on Sakhalin in 2017

YUZHNO-SAKHALINSK. March 21 (Interfax) - Rosneft will go through with the development of the Kaigano-Vasyukansky section (at the Sakhalin-5 project) and hopes to post its first production in 2017, Rosneft's chief, Eduard Khudainatov, said on Monday.

"We plan to start production at Kaigano-Vasyukansky section in 2017," he said.

The company, which is developing the section jointly with BP, said that current reserves at Kaigano-Vasyukansky are insufficient for industrial production. Rosneft said that it plans to drill additional wells by 2012 in order to verify total reserves.

Khudainatov said that company is carrying out active operations at this block. Rosneft is interested in drilling additional wells at this field.