LUKOIL has moved on to the next stage of facilities construction for the Valery Grayfer field being the launch of the jacket of the living quarters platform from the yard to the Caspian Sea. The total weight of the facility designed to accommodate 155 people is 6,000 tons. The installation of the topside of the living quarters platform is scheduled for 2021.

The start of the commercial oil production from the Valery Grayfer field is planned for 2022 at the design rate of 1.2 million tonnes per year.

The Company also continues the development of the V. Filanovsky and Yury Korchagin fields with the accumulated production from these projects approaching to 30 million tonnes.

The production on the V. Filanovsky field involves three phases of facilities, including a wellhead platform with minimal involvement of personnel.

The drilling of single-bore horizontal gas injection well #102 has been completed on the ice-resistant fixed platform.

Drilling is in progress on phase 2 facilities of the Yury Korchagin field to unlock reserves in the eastern part of the field as well as additional drilling on phase 1 facilities of the project. The first producing well reaching the Callovian deposits was drilled from the ice-resistant fixed platform that has an intelligent completion system and a vertical depth as big as 1985 meters.

About LUKOIL

LUKOIL is one of the largest oil & gas vertical integrated companies in the world accounting for over 2% of crude production and circa 1% of proved hydrocarbon reserves globally. LUKOIL enjoys a full production cycle to control the entire value chain from upstream to downstream. LUKOIL employs over 110 thousand people who join their efforts and talents to secure the Company’s market leadership.