International Oil and Gas Conference opens in Sakhalin

The international conference Oil and gas potential of Sakhalin: a glance into the future opened in Sakhalin yesterday. As a Rosbalt correspondent was informed by the regional administration, the conference will feature over 200 representatives of 9 different countries and 70 different companies who will discuss the preliminary results of work on the Sakhalin Shelf and plans to develop the regional oil and gas industry. Yesterday participants at the conference exchanged views about oil prospecting, extraction, refining and transportation on the island of Sakhalin.

Over USD 20 billion will be invested in the two regional oil projects Sakhalin 1 and Sakhalin 2. This investment is also going towards the construction of roads, bridges and ports as well as providing several thousand new jobs. Unemployment in the region is now at a ten-year low.

Participants at the forum decided to dedicate it to the memory of former governor of the Sakhalin Region Igor Farkhutdinov, who recently died in a helicopter crash in Kamchatka.