Luis Manuel

The world’s biggest oil platform has begun commercial production at the Sakhalin-1 offshore project in Russia’s Far East. The Berkut oil rig is expected to extract 4.5 million tons of oil annually.

The Sakhalin-1 Consortium was formed in 1996 is the first major shelf project in Russia created under terms of a Product Sharing Agreement (PSA). The international consortium is made up of the US major ExxonMobil (30 percent), Japan's Sodeco (30 percent), Russia’s Rosneft (20 percent) and India's ONGC Videsh (20 percent).

The total cost of the project is estimated to be $10-12 billion, making it the largest direct foreign investment in Russia .... http://rt.com