Russian independent oil company Lukoil has exceeded a cumulative production of 35 million tonnes from its Yury Korchagin and Vladimir Filanovsky fields in the North Caspian Sea.

Lukoil said on Tuesday that it carried on with these
projects in 2020. In particular, new production wells were drilled, as well as
side-track wells to intensify influx of hydrocarbons.

During the year, Lukoil produced over 7 million tonnes at two aforementioned fields. Also, the company stated that it started constructing infrastructure facilities at its third major Caspian project – Valery Grayfer field.

According to the company, an estimated plateau level for the field is over a million tonnes of oil per year. In April, Lukoil installed jackets for the accommodation block, and in August – for the fixed ice-resistant platform. Shipyards in Astrakhan are constructing topsides of both platforms.

Lukoil stated that it would continue the construction of
facilities at Valery Grayfer field in 2021. Exploration and production drilling
will take place at its other offshore fields.

In the summer of 2020, the company drilled an exploration well at the Severo-Rakushechnaya prospective structure set north of Valery Grayfer field.

The company also keeps up exploration works at Khazri and
Titonskaya structures set in the Central Caspian.

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