Sakhalin Energy posts first half net profit of 38 bln rbls - Gazprom

Sakhalin Energy, the operator of the Sakhalin-2 oil and gas project off Russia's Pacific coast, posted a net profit of 37.984 billion rubles ($1.266 bln) to IFRS in the first half of 2010.

Sakhalin Energy, the operator of the Sakhalin-2 oil and gas project off Russia's Pacific coast, posted a net profit of 37.984 billion rubles ($1.266 billion) to IFRS in the first half of 2010 after a first half loss of 6.53 billion rubles the previous year, Gazprom, which holds a 50 percent stake in Sakhalin Energy, said on Monday.

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.

MOSCOW, November 8 (RIA Novosti)