TRAINING PROGRAM FOR SAKHALIN-1 WELDERS
Yuzhno-Sakhalinsk, November 11, 2004 -- Exxon Neftegas Limited (ENL), the Sakhalin-1 project Operator, announced today the start of a new training program for advanced welders and related occupations specialists to work on construction projects for the Sakhalin-1 project facilities. 60 Sakhalin welders will enhance their professional skills through this program, which will entitle them to international certificates.The welders training program is housed at the Sakhalin-Alaska Technical College training center in Yuzhno-Sakhalinsk and will be financed by ENL. The Sakhalin Alaska Technical College also receives significant financing for its operations from the US Government in a grant from the US Agency for International Development (USAID).
The program participants will be selected in cooperation with the Sakhalin Oblast Employment Bureau and Sakhalin-1 contractors, who will benefit from having their workers upgrade the skills, as well as from hiring other successful program graduates.
Speaking at the training center opening ceremony, ENL Vice President Jim Flood noted that his company had already concluded more than $2.9 billion in contracts with Russian companies. He also menitoned many examples of strong performance from the Russian and Sakhalin contractors in the early stages of Sakhalin-1 construction activities. "Many local residents are already working at various construction site across the Island, many of these are in management and skilled positions. The opening of the Sakhalin-Alaskan College skilled training center will allow a greater number of local residents to be trained in a life-long skill, which will add great value to the community and to ENL," - added Flood.
The Sakhalin-1 project, one of the largest foreign direct investment projects in Russia, includes the Chayvo, Odoptu and Arkutun-Dagi fields. The Project's potentially recoverable reserves amount to approximately 307 million tons (2.3 billion barrels) of oil and 485 billion cubic meters (17.1 trillion cubic feet) of gas. The total investment in full field development is estimated at over US$12 billion (in 2002 dollars). To date, over US$2.6 billion have been spent on Project activities. In addition to ENL (30% interest, Operator), the Sakhalin-1 Consortium includes the Japanese company Sakhalin Oil and Gas Development Co., Ltd. (30%), the Indian company ONGC Videsh Ltd. (20%) and two Russian companies, Sakhalinmorneftegas-Shelf (11.5%) and RN-Astra (8.5%).
For more information on the Sakhalin-1 Project, please contact Glenn Waller (Moscow 095 564-8950) or Michael Allen (Yuzhno-Sakhalinsk 4242 66 88 12) or logon to the Sakhalin-1 website (www.sakhalin1.ru and www.sakhalin1.com)