LUKOIL’s cumulative production of oil has exceeded 35 million tonnes at its Yury Korchagin and Vladimir Filanovsky fields in the North Caspian Sea.
LUKOIL 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. In 2020, LUKOIL produced over 7 million tonnes at two aforementioned fields.
Moreover, LUKOIL started constructing infrastructure facilities at its third major Caspian project, Valery Grayfer field. 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 will continue construction of facilities at Valery Grayfer field in 2021. Exploration and production drilling will take place at its other offshore fields.
This summer, LUKOIL 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.
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience in implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor in this space. Stuart has led the “Total Corporate Digital Integration” platform at Sandstone and works with Sandstone clients to help integrate all aspects of modern digital business. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage and is the Co-Host of the energy news video and Podcast Energy News Beat.
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Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.
