MOSCOW—Rosneft said on April 30 it plans to complete a feasibility study of an LNG plant in Russia’s Far East this year and start marketing gas from the project.
The plant with an annual capacity of 6.2 million tonnes in the Pacific port of De Kastri is part of the Sakhalin-1 consortium.
Rosneft, Exxon Mobil Corp., Japan’s SODECO and India’s ONGC Videsh are partners in the Sakhalin-1 group of fields.
Gazprom, Russia’s top gas company, leads another project on the Pacific island of Sakhalin, Sakhalin-2, featuring an LNG plant which produces more than 11 million tonnes of the super-cooled gas per year.
Rosneft said in its annual report that it expects to tender for an ECP (engineering, procurement and construction) contractor for the project this year.
Successful results from Ring Energy’s development program in the Permian Northwest Shelf are “encouraging and reinforce our confidence in the strong inventory of drilling locations on our NWS acreage,” says CEO Paul D. McKinney.
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The deal would create the largest pure-play northern Midland Basin E&P with a 73,000-net-acre position and 12,000 boe/d of production that is expected to more than double through 2020.