Courtesy of lukoil.com

LUKOIL has reached another milestonnee with two million tonnes of oil, produced at the Vladimir Filanovsky field in the Caspian Sea.

As of today, hydrocarbons are extracted through four horizontal production wells of the fixed offshore ice-resistant platform. The fifth well is currently under construction.

The topside of the fixed ice-resistant platform (LSP-2) is being currently installed on the substructure in line with the planned schedule of the V. Filanovsky field Phase 2 development project. Accommodation topside of Phase 2 will be brought to the field at the following stage later.

According to the plan, the facilities of the V. Filanovsky field Phase 2 will have been completed and commissioned by the end of 2017.

The Vladimir Filanovsky field was put in operation in 2016. Its 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