LUKOIL increases production in the Caspian Sea

LUKOIL increases production in the Caspian Sea

One of Russia’s biggest oil companies has completed drilling its eighth well in the Caspian Sea. Lukoil is now waiting to turn on the tap for the additional resources that will be unleashed from the Vladimir Filanovsky field, put in operation in 2016. Its initial recoverable reserves equal 129 million tonnes of oil and 30 billion cubic meters of gas. The latest well is a horizontal producing one, with a section of 1,560 metres and a flow rate of 2,800 tonnes per day. As a result, the total daily oil production at the project reached 16.5 thousand tons or 6 million tons per year. At present, there are six producing wells and two water injectors (also currently producing oil) in operation at the field.

Within the Phase 2 of the Filanovsky field development plan, construction and individual equipment testing works at fixed ice-resistant platform, the accommodation block platform and the connecting bridge will have been completed by the end of 2017. A drilling complex and systems are also planned to be put into operation.

The extracted oil is exported through the system of the Caspian Pipeline Consortium (CPC). Due to the CPC quality bank, the price of oil corresponds to its high characteristics. Associated gas from the field is planned to be delivered to the Stavrolen petrochemical complex for further processing into commercial gas and petrochemical products. The Filanovsky field infrastructure provides a significant synergy for other Caspian projects. In particular, with the launch of the field, the oil deliveries from Yuri Korchagin field have begun through the CPC system, which led to a significant decrease in transportation costs. The company's next projects in the Caspian Sea are also planned to be implemented taking into account the synergies with the infrastructure of the  Filanovsky field. For example, the production of the Rakushechnoye field is planned to be sent for preparation at the Filanovsky CHS and further through the CPC for export. The Kuvykin field will also be able to use the transport infrastructure of the Filanovsky field.

Lukoil works not only in the Russian oil and gas sector of the Caspian Sea, but also in the Azerbaijani sector. Since 1994, the company has launched its first international project to develop the Azeri-Chirag-Guneshli oil field, one of the largest fields in the Azerbaijani sector of the Caspian Sea. Lukoil became the first large Russian business structures that started its operations in Azerbaijan.

Today the company participates in the development of the Shahdeniz offshore gas condensate field located in the water area of ​​Azerbaijan in the southwest of the Caspian Sea. Shahdeniz is one of the largest and most capital-intensive oil and gas projects in the world.

Since 1995, Likoil also develops its own marketing network of refueling complexes  in Azerbaijan that meet world standards. In January 2000, the oil tank farm, which is capable of handling 120,000 tons of oil products per year, was put into operation. Due to this, Lukoil became a supplier of diesel fuel and motor gasoline to large international and Azerbaijani companies operating at the local market.

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