Rosneft to invest up to $150M in Sakhalin-3
Rosneft plans to invest $130 million to $150 million for the development of the Sakhalin-3 Veninsky block in 2008, Lev Brodsky, the head of CJSC Sakhalin Projects, the Rosneft subsidiary coordinating projects on the Far Eastern shelf, told reporters.
"This is just a tentative figure. The official budget has not yet been approved," Brodsky said.
The North Veninsky well should be drilled in July this year, he said.
Rosneft has already drilled the South Ayashinskaya well, which struck oil and gas reservoirs at the block, Brodsky said.
Veninsky contains an estimated 169.4 million tons of oil and 258.1 billion cubic meters gas. Six prospects have been identified as the result of seismic exploration.
Rosneft holds a 49.8 percent interest in Sakhalin-3; Sinopec has 25.1 percent and Sakhalin Oil Co. holds the remaining 25.1 percent.
KazTransOil undecided on oil shipments to China
KazTransOil, the oil transportation subsidiary of Kazakhstan's national oil and gas company KazMunaiGas, has not yet cleared Russia's Gazprom Neft to ship oil to China via the Atasu-Alashankou pipeline in February, a source close to Gazprom Neft told Interfax.
Gazprom Neft and China have agreed on all terms for crude shipments in the first quarter, including the price for oil. The January shipments have already taken place, but KazTransOil has not yet given the green light for the February shipments, the source said, without saying why.
The source said that TNK-BP had started to ship February oil to China via Kazakhstan.
A Gazprom Neft representative told Interfax that the company was still unable to start February shipments to China because it had not yet obtained clearance from KazTransOil. KazTransOil itself was not available for comment on Wednesday evening.
Gazprom Neft planned to ship 150,000 tons of oil to China in the first quarter and plans to apply for clearance to ship 360,000 tons in the second quarter.
Earlier reports said two Russian companies, TNK-BP and Gazprom Neft, would export 300,000 tons of oil to China via the pipeline in Kazakhstan this quarter. Russia can ship up to 5 million tons of oil to China via Kazakhstan per year, according to a protocol signed by the Russian and Kazakh governments at the end of November. Schedules to export pipeline oil to China via Kazakhstan did not exist in the past.
Lithuania to build energy link with Sweden
Lithuanian President Valdas Adamkus said Wednesday it is important for Lithuania to build an energy link with Sweden as soon as possible.
"As the closure of the Ignalina nuclear power plant is drawing nearer (2009), the project assumes not only commercial but also strategic importance for Lithuania and for the whole region," the press service quotes the president as saying after his meeting with Swedish Deputy Prime Minister and Minister of Industry and Energy Maud Olofsson.
Adamkus and Olofsson stressed the need of joint actions of North European and Baltic countries on energy security matters. Sweden is ready to give Lithuania all assistance in the solution of energy problems, Olofsson said.
The parties discussed the situation regarding the Nord Stream gas pipeline.
"We see no reason why the variant of laying out the Amber gas pipeline over the territories of Baltic and EU countries has not been chosen," Adamkus said, noting that "Lithuania is particularly concerned over the impact of the (future) gas pipeline on the ecology of the Baltic Sea."
Olofsson said all the matters connected with the ecology of the Baltic Sea must be analyzed and assessed professionally.
Closing oil prices, Feb. 7, 3 p.m. London
Brent crude oil: $87.47
West Texas Intermediate crude oil: $86.99