ONGC Videsh to provide 1,00,000 dollars to quake-hit Sakhalin

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Moscow, Oct 5 (UNI) ONGC Videsh Ltd, the overseas arm of the ONGC, a stake-holder in Sakhalin-1 oil and gas project, will donate 1,00,000 dollars to the earthquake-stricken town of Nevelsk on the Sakhalin Island to build new houses.

Director of the Sakhalin office of ONGC Videsh Rajiv Gupta told Itar-Tass news agency today, the Indian specialists heard the news about the quake ''with major grief and sorrow, the company wishes earliest restoration to Nevelsk and well-being to its residents.'' ONGC Videsh is participating in the Sakhalin-1 offshore oil and natural gas project jointly with Exxon Neftegaz Limited of the US, Japanese SODECO and Russia's Rosneft. It holds 20 per cent stake in project.

Hydrocarbons are recovered within this project framework since 2006 and 10 million tons of oil have already been recovered from the Chaivo offshore field in the Sea of Okhotsk.

The oil has been supplied to Japan, South Korea and India.

Rosneft and Exxon Neftegaz Limited have also provided considerable financial aid to Nevelsk.

About 8,000 people lost homes in Nevelsk in the August 2 earthquake. About half of them decided to leave the town and settle in other regions of the country.

UNI

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