Exxon to boost gas output under Sakhalin I in Russia's Far East

YUZHNO-SAKHALINSK, October 2 (RIA Novosti) - Exxon Neftegas Limited, a subsidiary of U.S. oil major Exxon and operator of the Sakhalin-I oil and gas project off Russia's Pacific Coast, said on Thursday that it plans to boost gas output.

Exxon Neftegas CEO James Taylor said the company plans to raise gas production at the Chaivo deposit, and that this will require the drilling of additional gas wells and the expansion of existing coastal and offshore facilities.

Taylor said the project would help increase gas sales on the domestic and international markets.

The Sakhalin I project has recoverable reserves estimated at 315 million metric tons (2.3 billion barrels) of oil and 485 billion cubic meters of natural gas. Exxon Neftegas and Japan's Sodeco hove a 30% stake each in the project, with Russia's Rosneft and India's ONGC holding 20% each.