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Sakhalin Energy posts first half net profit

Sakhalin Energy, the operator of the Sakhalin-2 oil and gas project off Russia's Pacific coast, posted a net profit of $1.266 billion

Sakhalin Energy posts first half net profit Sakhalin Energy posts first half net profit

The news was announced by Gazprom, which holds a 50 percent stake in Sakhalin Energy.

Gazprom's share in the company's net profit in January-June 2010 stood at 18.992 billion rubles against a loss of 3.27 billion rubles the previous year.

Sakhalin Energy's first half revenues grew five-fold year-on-year to 150.006 billion rubles.

The other shareholders in the company include Royal Dutch/Shell with 27.5 percent, and Japan's Mitsui and Mitsubishi with 12.5 percent and 10 percent respectively.

 

Source : RIA Novosti