Lukoil’s Caspian fields hit ten million tonnes of produced oil

Lukoil, Russia’s privately-held oil company, has reached ten million tonnes of oil produced at the Vladimir Filanovsky and Yuri Korchagin fields in the Caspian Sea.

Lukoil said last week that the “most significant gain in production” was observed at V. Filanovsky field, where cumulative recovery exceeded 2.5 million tons of oil from the start of the field’s commercial development.

The company added that it was currently implementing Phase 2 construction plan at both fields.

At Filanovsky, the topside of the fixed ice-resistant offshore platform (LSP-2) has already been mounted on the substructure, while at Korchagin, the sinking of piles for the wellhead platform substructure is underway.

The previous milestone happened in April when Lukoil marked the nine millionth tonne of produced oil from the two fields.

Vladimir Filanovsky and Yuri Korchagin fields

According to Lukoil, the Vladimir Filanovsky field is the largest post-Soviet discovery in Russia with C1+C2 reserves equaling 129 million tonnes of oil and 30 billion cubic meters of gas.

Exploratory drilling on Korchagin began in 1999 with production being launched in April 2010. The field’s proven oil reserves stand at 113 million barrels.

By the end of 2016, production of the fields passed six million tonnes with a production of 1.4 million tonnes of oil last year.