LUKOIL Extracts First Caspian Oil

Lukoil has commenced production from its Yuri Korchagin field in the Caspian Sea. Yuri's field development consists of 26 production wells, three water-injectors and a gas-injector well tied-back to two ice-resistant fixed platforms, LSP-1 and LSP-2, and also to an FSO. Oil will be transported from the field by shuttle tankers. The Yuri Korchagin field lies in the Lagansky Block in the Russian sector of the Caspian Sea in a water depth of 43 feet (13 meters). Lukoil serves as the operator and owns a 100% interest in the field.

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