19 Mar 2010 14:59

Sakhalin-2 may achieve profitability in 2013-2015

MOSCOW. March 19 (Interfax) - The Sakhalin-2 project may achieve profitability in 2013-2015, Deputy Energy Minister Stanislav Svetlitsky told journalists.

He said the actual date would depend on the market.

Gazprom said in its report for the third quarter of 2009 that profit on sales from Sakhalin-2 totaled $340 million.

The Sakhalin-2 production-sharing project involves development of the Piltun-Astokhskoye and Lunskoye fields, whose recoverable reserves are estimated at 150 million tonnes of oil and 500 billion cubic meters of gas. The project will cost about $20 billion. The shareholders in project operator Sakhalin Energy are Gazprom with 50% plus one share, Shell with 27.5% minus one, Mitsui with 12.5% and Mitsubishi with 10%.