LUKOIL commissioned the fifth well at the second development stage of the Vladimir Filanovsky field in the Caspian Sea.

The length of the main wellbore of the new bilateral production well is 2,956 meters, while the lateral's is 1,735 meters. The well's initial flow rate exceeded 3,300 tonnes of oil per day. As a result of the drilling program at the second development stage, the field's oil production is sustained at its plateau level of 6 million tonnes per year starting the second quarter of 2018.

The field's cumulative oil production has exceeded 10 million tonnes.

The Company plans to start drilling the sixth production well shortly. In total the construction of six production and two injection wells is planned at the field's second development stage.

The Company also progresses with the third development stage of the field. The substructure of a wellhead platform was installed offshore at the field in August; the platform's topside is currently being assembled with over 70% completion rate. The topside installation at the sea and the wellhead platform commissioning are planned in 2019.

About LUKOIL

PJSC “LUKOIL” is one of the largest publicly traded, vertically integrated oil and gas companies in the world in terms of proved hydrocarbon reserves and production; and the second largest producer of crude oil in Russia. Established in 1991, the Company currently operates in more than 30 countries with core upstream assets located in Russia. The full production cycle includes oil and gas exploration, production and refining; production of petrochemicals and lubricants; power generation; marketing and distribution providing LUKOIL with maximum synergies from its activities. The Company’s shares are listed in Russia on Moscow Exchange under the ticker “LKOH” and depositary receipts are listed on the London Stock Exchange under the ticker “LKOD”.