The chances of Sakhalin 3's Veninsky block being developed have improved after a third successful appraisal well was sunk earlier this year. Sakhalin 3 operator Venineft - a joint venture between Rosneft (75pc) and Chinese firm Sinopec (25pc) - says results indicate that the block, which lies 8km offshore, holds 50bn m3 of proven reserves, enough to justify development, a Venineft source says. Shareholders are due to make a final investment decision (FID) later this year, the source says.
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