Courtesy of yamalpro.ru

LUKOIL has produced 300 thousand tons of oil on the Gydan Peninsula in the Yamal-Nenets Autonomous District since commercial oil production commenced at the Pyakyakhinskoye oil and gas condensate field in October 2016.

Average daily flow rate of 76 oil wells of the total 111 wells, drilled at the field to date, exceeds 75 tons.

According to the company’s plan, 1.5 million tons of oil and gas condensate and 3 billion cubic meters of natural gas will be produced at the Pyakyakhinskoye field in 2017.

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.

Pyakyakhinskoe oil and gas field is the second project of hydrocarbons production which is realized by Yamalneftegas in Yamal-Nenets Autonomous Area (Yamalneftegas is a part of Lukoil-Zapadnaya Sibir LLC). The first production well drilling on new field was started in April, 2009.

Source: lukoil.com