Sakhalin Oil, Gas Production Launches In October

Russia?s state Rosneft head Sergei Bogdanchikov told reporters yesterday that the production at the Sakhalin-1 oil and natural gas project will be launched on the 1st of October.
Indian company ONGC Videsh, the overseas subsidiary of the Indian Oil and Natural Gas Corporation (ONGC) holds a 20 percent stake in the project, and has initially invested $1.7 billion in the production sharing arrangement in the project. Its total investment, $2.5 billion, in Sakhalin is India?s largest single foreign investment
The Rosneft CEO said that $4.5 billion had already been invested in the project.

The first oil would go to a refinery in Komsomolsk-on-Amur, while natural gas would be pumped to the Khabarovsk region.