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Corporate Jan 21, 2013

ONGC Videsh wins award in Russia

New Delhi: ONGC Videsh, the overseas arm of state-owned Oil & Natural Gas Corp (ONGC), today said the De-Kastri oil terminal of its Sakhalin-1 oil and gas project in Russia has bagged the best oil terminal award of Russia.

OVL holds 20 percent stake in the Sakhalin-1 oil and gas fields in Far East Russia. The terminal is used to storage and export the crude oil produced from the Sakhalin-1 fields. Oil is transported to the terminal from the Sakhalin-1 onshore production facilities at northeast of Sakhalin island via a 226-kilometer pipeline, the company said in a statement here.

Russia's Rosneft has 20 percent stake and Japanese consortium SODECO the remaining 30 percent. Reuters

The oil terminal, which has been in operation since 2006, is the largest of its class with a single point mooring facility being to safely load the tankers in heavy ice conditions. Since the start of the operations, the terminal has offloaded 550 tankers with 51 million tons of Sakhalin-1 produced oil, which makes it one of the largest ports of Far East Russia, OVL said.

While OVL has 20 percent stake in Sakhalin-I project, it is operated by Exxon Neftgas which has 30 percent interest. Russia's Rosneft has 20 percent stake and Japanese consortium SODECO the remaining 30 percent.

"The award was announced at the VII International Oil Terminal Congress 2012 held in St. Petersburg," OVL statement said. This is the second time that the De-Kastri Terminal has received an award from International Oil Terminal Congress.

Earlier in 2009, it was recognized as the Terminal of the year for its economic, environmental and social performance. "The terminal is the first in Russia to successfully accomplish the year-round export of oil during severe arctic winter conditions using specifically designed fleet of double
-hull Aframax class tankers," it said.

To ensure safe navigation through ice fields during severe winters, the tankers are escorted by ice-breaking vessels.

PTI


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