OREANDA-NEWS. Exxon Neftegaz Limited (The Sakhalin-1 Project operator, the subsidiary of the ExxonMobil Corporation) has completed drilling the longest well in the world for the project. Located on Sakhalin Island offshore, the record-setting well achieved a total measured depth of 11,282 meters (37,016 feet).

The multiphase Sakhalin-1 Project includes the Chayvo field which is located 8 to 11 kilometres offshore.

The well was drilled to the Chayvo reservoir from the Yastreb worlds largest land-based drilling rig. Overall, the Chayvo field reached its peak production rate of 34,000 metric tons (250,000 barrels) per day in February 2007 after an on schedule start-up in October 2005.

The well was drilled in 61 days, more than 15 days ahead of schedule and below expected cost with no safety or environmental incidents.

The Sakhalin-1 Project will bring significant economic benefits to Russia including over US$50 billion in direct revenues to the Russian state, major infrastructure improvements, technology transfer and the supply of natural gas to customers in the Khabarovsk Krai in the Russian Far East. Notably, over 80 percent of the Sakhalin-1 Project drilling rig operators are Russian nationals and project contract awards to Russian companies have reached approximately US$3.8 billion.