China Petroleum & Chemical Corporation (Sinopec) has initiated drilling operations in the Sakhalin No. 3 oil and gas development area in Russia's Far East, using the China Exploration-3 offshore drilling platform. This marks a significant step in Sinopec's expanding presence in the region.
According to TASS, the "Exploration-3" platform is situated in the Sea of Okhotsk, approximately 50 kilometers off the coast of Oha on Sakhalin Island. The platform is set to drill a well that will reach a depth of 3,225 meters, aiming to identify potential oil-bearing formations. Around 30 Chinese experts are currently overseeing the operations and managing related tasks, while roughly 100 Chinese oil workers are actively working on the platform.
If the drilling proves successful, it is expected that the Chinese banking sector may increase its investment in the Sakhalin oil and gas project. This move would further solidify China’s role in Russia’s energy sector.
The Sakhalin III project involves key players such as the Russian state-owned oil company, Sakhalin Oil Company, and Sinopec. It is estimated that the project area holds over 800 million tons of oil reserves and more than 900 billion cubic meters of natural gas.
The Sakhalin region in Russia’s Far East is considered one of the most promising areas for oil and gas exploration. Following the launch of the Sakhalin II project in 1999, the Sakhalin I project began operations last October. In addition to these two projects, several other developments—Sakhalin No. 3, No. 4, and No. 5—are currently underway, highlighting the region’s growing importance in global energy markets.
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