The multiphase Sakhalin-1 Project includes the Chayvo field which is located 5 to 7 miles (8 to 11 kilometers) offshore. The Z-11 was drilled to the Chayvo reservoir from the Yastreb rig, the world's largest land-based drilling rig. Overall, the Chayvo field reached its peak production rate of 250,000 barrels (34,000 metric tons) per day in February 2007 after an on-schedule startup in October 2005. The Z-11 is the 17th ERD producing well to be completed as part of the Sakhalin-1 Project. It was drilled in 61 days, more than 15 days ahead of schedule and below expected cost with no safety or environmental incidents.
"ExxonMobil, through the operatorship of Exxon Neftegas Limited, is pleased that the Sakhalin-1 Consortium achieved this record-setting milestone,"Â said Neil Duffin, president of ExxonMobil Development Company. "Our consortium is committed to the continuing development of the Sakhalin-1 Project which will require significant investment, planning, execution, operating expertise and the employment of leading-edge technology."Â
The Sakhalin-1 Project will bring significant economic benefits to Russia including over $50 billion in direct revenues to the Russian state, major infrastructure improvements, technology transfer and the supply of natural gas to customers in the Khabarovsk region in the Russian Far East. Notably, over 80 percent of the Sakhalin-1 Project drilling rig operators are Russian nationals and project contract awards to Russian companies have reached approximately $3.8 billion.
Exxon Neftegas Limited (30 percent interest) is operator for the project, which includes the Japanese company Sakhalin Oil and Gas Development Co. Ltd., (30 percent); affiliates of Rosneft, the Russian state-owned oil company, RN-Astra (8.5 percent), Sakhalinmorneftegas-Shelf (11.5 percent); and the Indian state-owned oil company ONGC Videsh Ltd. (20 percent). -Source: http://www.mosnews.com