Exxon Neftegas, an affiliate of ExxonMobil, has approved $28 million for initial engineering studies to be performed under this contract in 2008. SNE added the contract could be worth $150 million over five years.

SNE will provide overall project management services with coordination of subcontracts to be awarded to multiple third parties, including Russian design institutes.

The project will be executed from Moscow and Houston with additional support from WorleyParsons' offices in Perth, Melbourne, London, Beijing and California.

Located in sub-arctic waters, Arkutun-Dagi will be one of the largest floatover platforms in the world.

WorleyParsons has a 49% stake in SNE.

Arkutun-Dagi is one of three developments that make up the giant Sakhalin-1 project, which has estimated total recoverable reserves of 2.3 billion barrels of oil and 17.1 trillion cubic feet of gas.