Sakhalin Energy

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Sakhalin Energy
Private
Industry Oil and gas industry
Founded 1991 (1991)
Headquarters Yuzhno-Sakhalinsk, Russia
Key people
Roman Dashkov (CEO)
Revenue $4.55 billion[1] (2016)
$860 million[1] (2016)
Total assets $15 billion[1] (2016)
Total equity $5.52 billion[1] (2016)
Number of employees
2,230[1] (2015)
Parent Gazprom
Website www.sakhalinenergy.com

Sakhalin Energy Investment Company Ltd. (Sakhalin Energy) is a consortium for developing the Sakhalin-II oil and gas project with corporate head office in Yuzhno-Sakhalinsk. The chief executive officer is Roman Dashkov.

The company's principal activities are the production and export of crude oil (since 1999) and liquefied natural gas (from 2009).

History[edit]

The original consortium was formed in 1991 by Marathon, McDermott, Mitsui and Russian Federation as MMM Consortium. Shell and Mitsubishi joined the consortium in 1992, to make it MMMMS. In April 1994, the consortium (excluding Russian Federation) formed Sakhalin Energy Investment Company Ltd. to develop and manage the Sakhalin II project. Sakhalin Energy signed a production sharing agreement with the Russian Federation, represented by the government of the Russian Federation and the Sakhalin Oblast Government.[citation needed]

McDermott sold its share to the other partners in 1997 and Marathon traded its share to Shell for other properties (the BP operated Foinaven field, near the Shetland Islands, and an eight block area in the Gulf of Mexico—including the Ursa field) in 2000.

In 2007, Shell was forced by the Russian government to sell part of its stake to Gazprom which made Gazprom the largest shareholder with 50% share of the company.[2][3]

In November 2009, Sakhalin Energy joined the United Nations Global Compact.[4]

Operations[edit]

Sakhalin Energy develops the Piltun-Astokhskoye and the Lunskoye oil and gas fields, known as the Sakhalin-II project, in the Sea of Okhotsk, offshore Sakhalin island in the Russian Far East. The infrastructure of the Sakhalin-II project includes:

  • Offshore Molikpaq platform
  • Offshore Piltun-Astokhskoye platform
  • Offshore Lunskaya platform
  • Onshore processing facility
  • Pipeline
  • LNG plant and oil export terminal.

In 2015, Sakhalin Energy paid about US$5.2 billion (in kind and in cash) to the Russian Federation. By the end of 2015, the Russian Federation's proceeds from the Sakhalin-2 project have totalled over $18.8 billion. Over $23 billion worth of contracts have been awarded to Russian companies and organisations.

Shareholders[edit]

The current shareholders are:

  • Gazprom Sakhalin Holdings B.V. (subsidiary of Gazprom) - 50% plus 1 share
  • Shell Sakhalin Holdings B.V. (subsidiary of Royal Dutch Shell) - 27.5% minus 1 share
  • Mitsui Sakhalin Holdings B.V. (subsidiary of Mitsui)- 12.5%
  • Mitsubishi - 10%

References[edit]

  1. ^ a b c d e http://www.rbc.ru/companies/id/246.
  2. ^ "Transfer of Sakhalin Energy Shares Completed" (PDF) (Press release). Mitsubishi. 2007-04-19. Retrieved 2011-07-20. 
  3. ^ White, Garry (2009-06-28). "Russia invites Shell back to Sakhalin as finances plummet". Telegraph. Retrieved 2011-07-20. 
  4. ^ "Participant Information". United Nations Global Compact. 

External links[edit]