BP Ready To Invest In Sakhalin-5 Project

The international corporation British Petroleum is ready to start prospecting works at two oil fields of the Sakhalin-5 project at its own risk. According to Sakhalin regional governor Igor Farkhutdinovm he met with BP officials at an international conference 'Sakhalin Oil And Gas' in London on November 12. The future of Sakhalin-5 and other Sakhalin projects has remained obscure over the last several years. However, British Petroleum expressed its intention to invest money in prospecting works and exploratory drilling, which will be done by Sakhalin geologists, physicists and drillers. At the same time, the company asked the governor to lobby this idea to the Nature Ministry of the Russian Federation. Then, if these oil fields are included on a list of oil fields subject to the product-sharing agreement, BP will start the project.