Courtesy of lukoil.com

Cumulative production at Vladimir Filanovsky field, a LUKOIL property in the Caspian Sea, has reached one million tons.

Having already commissioned three horizontal sidetracked wells, the company is now constructing the fourth one. Alongside, facilities of the field’s second phase of development are being built: an offshore ice-resistant fixed platform (IRP-2) and a living quarter platform (LQP-2). The substructures were taken to the sea and installed at prescribed points. The annual planned production level is estimated at 6 million tons of oil.

LUKOIL is one of the major international oil and gas companies that accounts for more than 2% of the world's oil production and around 1% of the proven hydrocarbon reserves.

While having the full production cycle, the Company exercises full control over the whole production chain — from oil and gas production to petroleum product sales. The Russian Federation accounts for 88% of hydrocarbon reserves and 83% of hydrocarbon production, with the main activities concentrated in four (4) federal districts, including the Northwestern, Volga, Urals and Southern Federal Districts.

Source: lukoil.com