Karachaganak: Dispute to End Shortly?
Kazakhstan aims to settle its profit-sharing dispute with energy majors developing the Karachaganak gas condensate field within a month, the energy minister said on Thursday. The former Soviet republic expects a large one-off payment from the companies and a higher share of future revenues from the development of one of …
LUKOIL Reports 1Q 2018 Preliminary Operating Data
The LUKOIL Group’s average daily hydrocarbon production excluding West Qurna-2 project in the first quarter of 2018 was 2,286 thousand boe per day, which was 3.3% higher year-on-year and flat quarter-on-quarter. The growth was driven by the development of gas projects. Hydrocarbon production, thousand boe per day 1Q 2018 4Q …
LUKOIL: Completes Denisov Depression Models
LUKOIL has built an integrated geological and geophysical model of fields and exploration structures of the Denisov depression in Timan-Pechora oil and gas province. The modelling, completed with 3D seismic surveys, provides greater accuracy of structure mapping and significantly contributes to the quality of pre-drilling at prospective features. Four oil …
LUKOIL NVN: Installs Yuri Korchargin Wellhead Platform
LUKOIL has completed the installation of the wellhead platform’s topside as part of Yury Korchagin field Phase 2 development in the Russian sector of the Caspian Sea. The wellhead platform is a satellite platform designed to drill wells in the eastern part of the field. Drilling at Phase 2 is …
LUKOIL Produces One Million Tonnes of Oil at Yarega Field in 2017
LUKOIL has reached another milestone with one million tonnes of oil produced at Yarega field, in the Komi Republic, since the beginning of 2017. The company plans to increase Yarega’s production by 20%, as compared with 2016. The meterage of horizontal wells, drilled with steam-assisted gravity drainage, will be increased …
6th RDCR 2018 – Date, Venue & Sponsors Announced
TMG Worldwide are pleased to announce that the 6th RDCR will be returning to the Kempinski Baltschug Hotel for the 5th year running on the 12th April, 2018. Now in its 6th year, the RDCR 2018 will see an expanded format that includes not only the traditional focus areas of …
Gazprom and LUKOIL Discuss Cooperation Prospects
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Vagit Alekperov, President of LUKOIL, took place in Moscow today. The parties discussed issues related to cooperation, including the prospects for further collaboration in the areas of gas supplies, transmission and processing. Source
LUKOIL: Approves 2018 Plan – Forecasting “Conservative $50 Barrel Price”
The Board of Directors at the today’s meeting approved the mid-term development plan (‘Key budget indicators of the LUKOIL Group for 2018-2020′). The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth …
LUKOIL: First Intelligent Multilateral TAML5 Wells on the V. Filanovsky Field
The first Intelligent multilateral TAML5 wells on the V. Filanovsky Field are a great example of how new technologies are helping to optimize CAPEX, and thanks to a higher productivity index, achieving higher production rates. Multilateral well geometry combined with an ability to monitor and control each leg separately helps …
LUKOIL Starts Drilling of the First Production Well at the Phase 2 of the Filanovsky Field
LUKOIL finished most of the construction works at Vladimir Filanovsky field’s Phase 2 development facilities and started drilling of the first production well. The drilling is planned to be completed in early 2018. The Phase 2 facilities will allow to reach the stable designed production plateau of 6 million tons …