Exxon Neftegas Limited, the operator of the Sakhalin-1 project, plans to invest $5 billion over five years to stabilize and increase oil production. The project is jointly implemented by Rosneft, Exxon, Japanese SODECO and Indian ONGC Videsh. This year, oil production is expected to decline to 15.2 million tons, down from 18.4 million tons in 2020, with a further decline to 14 million tons as reserves decline.
Exxon Neftegas Limited, the operator of the Sakhalin-1 project, plans to invest $5 billion over five years to stabilize and increase oil production. The project is jointly implemented by Rosneft, Exxon, Japanese SODECO and Indian ONGC Videsh. This year, oil production is expected to decline to 15.2 million tons, down from 18.4 million tons in 2020, with a further decline to 14 million tons as reserves decline. 
reuters.com
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