LUKOIL has reached another miles tonnee with one million tonnes of oil produced at Yarega field, the Komi Republic, since the beginning of 2017.

The company plans to increase Yarega's production by 20%, as compared with 2016. The meterage of horizontal wells, drilled with steam assisted gravity drainage, will be incremented by over 40%. There will also be an almost 50-percent increase in volumes of steam injected into production formations.

This year, LUKOIL commissioned a 75-megawatt power generation farm, the Yarega, and a steam generation facility with total hourly capacity of 300 tonnes of steam, at the field. A year earlier, a plant to gather and treat oil was installed, together with a water-treatment facility, WTP-700.

About Yarega field

Yarega field is the only field in Russia where both thermoshaft and open-pit mining techniques are used to produce oil. The hydrocarbons occur at the depth of 165-200 meters. As the pressure in the formation is low, the oil of anomalously high viscosity, with insignificant amounts of gas, is produced under thermal treatment, which ensures better oil fluidity and lower viscosity.

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”.