Sakhalin-2 Phase 2 project receives additional funding

A consortium of international commercial banks insured by Nippon Export and Investment Insurance (NEXI) are providing $1.4 billion for the Sakhalin-2 Phase 2 project, according to Sakhalin Energy Investment Co.

Offshore staff

YUZHNO-SAKHALINSKI, Russia -- A consortium of international commercial banks insured by Nippon Export and Investment Insurance (NEXI) are providing $1.4 billion for the Sakhalin-2 Phase 2 project, according to Sakhalin Energy Investment Co. This brings total financing for the project to $6.7 billion.

The funds will be used to finance the project’s full scope of work, including an ongoing drilling program that will help achieve full production capacity.

10/07/2009

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