China Petroleum & Chemical Corporation (Sinopec) has started drilling oil wells in the Sakhalin No. 3 development area in Russia's Far East, utilizing the China Exploration-3 offshore drilling platform. This marks a significant step in Sinopec’s expanding presence in the region and its ongoing efforts to tap into Siberia’s vast energy resources.
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 specialists are currently overseeing operations on the platform, while roughly 100 Chinese workers are actively involved in daily tasks. If the drilling proves successful, it is expected that Chinese banks will increase their financial support for the Sakhalin oil and gas projects, signaling greater long-term investment.
The Sakhalin III project involves key players, including Russia's state-owned Sakhalin Oil Company and Sinopec. The area is estimated to hold over 800 million tons of oil reserves and more than 900 billion cubic meters of natural gas. These figures highlight the strategic importance of the region for both Russian and international energy companies.
The Russian Far East, particularly Sakhalin, is considered one of the most promising areas for oil and gas exploration in the country. Since the completion of the Sakhalin II project in 1999, several other developments have followed. In October of last year, the Sakhalin I project was also launched. Alongside these, projects Sakhalin No. 3, No. 4, and No. 5 are currently under active development, demonstrating the region's growing significance in Russia's energy sector.
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