Lukoil Plans to Develop Caspian Sea Gas Condensate Field by 2024

Russian producer Lukoil will start development of the Yuri Kuvykin field in the northern part of the Caspian Sea in 2024, Gennady Ordenov, Deputy General Director of Lukoil Nizhnevolzhskneft said at a Russian-Norwegian oil and gas seminar yesterday.

“It is planned to start development of the gas condensate field Kuvykin in 2024. Gas will be transported to the Filanovsky field,” he said.

In addition, he said that balancing and commissioning works will be completed in 2015 while the drilling of the first production well on the Filanovsky field will start in the same time period. “We will start transportation of gas to the coastal facilities. It is planned to drill a total of 18 production wells at this stage. In parallel, we will start construction of the drilling and residential platform of the second phase of the Filanovsky project. The facilities will be put into operation in 2016."

The Filanovsky, Kuvykin, and Rakushechnoye fields are located in the northern part of the Caspian Sea.

The Filanovsky field was discovered in 2005. Its extractable oil resources of categories C1 and C2 total 153.1 million tons; gas of C1 and C2 categories total 32.2 billion cubic metres. Drilling of the field is scheduled to begin in December 2015 with hydrocarbons extraction to start in 2016.

The Kuvykin field (also known as the Sarmatskoye field) was discovered in 2002. Its extractable gas resources total 1.2 billion barrels of oil equivalent. Rakushechnoye field was discovered in 2008.

Lukoil's share in total world oil production is 2.1%. In Astrakhan district and Caspian Sea oil is extracted by Lukoil’s daughter company Lukoil Nizhnevolzhskneft.