Commercial production at the Vladimir Filanovsky field in the Caspian Sea was launched today by the President of the Russian Federation Vladimir Putin.
The V. Filanovsky field, discovered by LUKOIL in 2005, is Russia´s largest oil discovery for the past twenty-five years and the second field commissioned by the Company in the Russian offshore sector of the Caspian Sea. The field´s recoverable reserves under the Russian classification are estimated at 129 million tons of crude oil and 30 billion cubic meters of gas. The annual oil production at the plateau is estimated at 6 million tons.
Two horizontal production wells have been drilled to date, yielding a total daily flow rate of over 6 thousand tons (45 thousand barrels) of oil. Construction of a third well is underway. The sweet light crude oil lifted from the wells is transported via a subsea pipeline to the onshore storage facilities and subsequently fed into the Caspian Pipeline Consortium system for further exports.