Lukoil Spuds First Development Well at Filanovsky Field

Lukoil announced late Wednesday that it has spud the first development well at the Filanovsky field, located offshore Russia.

The president of the company, Vagit Alekperov, and Governor of the Astrakhan Region, Alexander Zhilkin, visited the field in the Caspian Sea as development drilling commenced. The well is being drilled from an ice-resistant fixed platform (LSP-1). First commercial production at the field is scheduled for the second half of 2016, according to a company statement.

Filanovsky is the largest of all fields discovered in Russia in the past 25 years, said a Lukoil statement. The field is situated in the northern part of the Caspian Sea, 136 miles away from Astrakhan. Water depth in the area ranges from 22 to 36 feet and recoverable reserves amount to 128 million tons of oil and over 1.4 trillion cubic feet of natural and associated gas.

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