Reuters: Russia's Lukoil launches Siberian oilfield ahead of schedule

Russia's No.2 oil producer Lukoil launched an oilfield in western Siberia ahead of schedule on Wednesday, a major step in its drive to prop up falling production and to weather U.S. sanctions over Ukraine.

The United States imposed sanctions on Lukoil and other Russian energy companies last month, preventing U.S. firms from supporting the Russian firms' activities in exploration or production from deep water, Arctic offshore or shale projects.

The sanctions have also limited the companies' access to Western capital markets.

"The field is launched, though there is a difficulty with raising finance," Chief Executive Officer Vagit Alekperov told reporters at the Imilorskoye field.
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