Courtesy of lukoil.com

LUKOIL has reached another milestone with three million tonnes of oil produced at Vladimir Filanovsky field in the Caspian Sea.

As of today, the company has completed six wells and is drilling the seventh one. The average daily production exceeded 14 thousand tonnes of oil last June.

As part of Phase 2 construction and assembly operations, LUKOIL has completed installation in the target area of the topside of the fixed ice-resistant platform and of the accommodation topside.

It is expected that the Phase 2 construction and assembly operations will have been completed by the end of 2017.

Vladimir Filanovsky field was put in operation in 2016. Its initial recoverable reserves equal 129 million tonnes of oil and 30 billion cubic meters of gas. The annual production rate at plateau phase is 6 million tonnes of oil.

All the offshore facilities installed at LUKOIL’s Caspian fields have been manufactured by Russian shipyards.

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