Crude production at Sakhalin may rise by 8% by the end of the year

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Oil crude and condensate at the Russian Far Eastern region of Sakhalin is expected to rise by eight per cent by the end of this year. But further growth in the coming years is more likely to slow down, chairman of the Sakhalin regional government Vera Shcherbina said Wednesday at the annual Sakhalin Oil and Gas forum in Yuzhno-Sakhalinsk.

Regional authorities suppose that annual production in 2016 will reach 18.1 million mt, which is equal to 362,500 barrels per day.

"Such situation is the result of the dynamic development of projects on the exploration of offshore fields in the Sea of Okhotsk," Shcherbina said.

Las year Sakhalin's governor, Oleg Kozhemyako, claimed the region's crude output would grow to 18.85 million mt by 2020. That would mean a 4% increase in the nearest three years.

"Our task today is primarily to maintain the current crude and condensate production volumes because we need some stability today. The projects being implemented today will continue developing, they will probably continue to raise [output]. The volume of 18.85 million is possible to achieve," chairman of the government added.