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According to the Tass news agency, the "Exploration-3" drilling platform is located in the Sea of ​​Okhotsk, 50 kilometers from the coast of the city of Oha in Sakhalin. The platform plans to drill a 3225-meter-deep well to determine the location of the oil-bearing formation. About 30 Chinese experts are currently responsible for coordinating the “Exploration-3†platform work and handling other related issues in Sakhalin. There are about 100 Chinese oil workers working on the platform. It is reported that if the drilling of the “Exploration-3†platform is broken, the Chinese banking sector will expand the investment scale of the Sakhalin oil and gas project.
Participants in the Sakhalin III oil and gas development project include the state-owned Russian oil company, Sakhalin Oil Company and Sinopec. It is predicted that the project area will have more than 800 million tons of oil reserves and more than 900 billion cubic meters of natural gas reserves.
The Russian Far East Sakhalin region is one of Russia's most promising oil and gas regions. After the Sakhalin II oil and gas project was put into operation in 1999, the Sakhalin No. 1 project was also put into operation last October. In addition to these two projects, Sakhalin No. 3, No. 4 and No. 5 oil and gas development projects are also actively implemented.
China Petroleum & Chemical Corporation (Sinopec) began drilling oil wells in the oil and gas development project area of ​​Sakhalin No. 3 in the Russian Far East using the China Exploration-3 offshore drilling platform.