international magazine
03 / 2006

A foothold on Asia-Pacific market
From Sakhalin-2 to Sakhalin 3, it's a crowhop

Sakhalin-2 is the largest project in Russia's with direct foreign investment and one of the largest integrated oil&gas projects globally. It is also the first Russian PSA project (the production sharing agreement was signed on 22 June 1994 by Russian Federation, represented by the government, Sakhalin administration and Sakhalin Energy Investment Company Ltd.). Royal Dutch/Shell owns 55% of the company, Mitsui 25%, Mitsubishi 20%. The PSA on Sakhalin-2 project specifies that oil&gas reserves of the project owned by Russia, while the company-operator develops the fields ensuring the financing required for the project.