Courtesy of lukoil.com

President of PJSC LUKOIL Vagit Alekperov and Governor of the Astrakhan Region Alexander Zhilkin visited Vladimir Filanovsky field in the Caspian Sea where development drilling has just begun. The well is being drilled from an ice-resistant fixed platform (LSP-1).

First commercial production at the field is scheduled for the second half of 2016.

V. Filanovsky is the largest of all fields discovered in Russia in the past 25 years. It is located in the northern part of the Caspian Sea, 220 km away from Astrakhan. The water depth in this area ranges from 7 to 11 meters. Recoverable reserves amount to 128 million tons of oil and over 41 billion cubic meters of natural and associated gas.

LUKOIL is one of the largest oil & gas vertical integrated companies in the world accounting for over 2% of crude production and circa 1% of proved hydrocarbon reserves globally. LUKOIL enjoys a full production cycle to control the entire value chain from upstream to downstream. LUKOIL employs over 110 thousand people who join their efforts and talents to secure the Company’s market leadership.

Source: lukoil.com