LUKOIL opened a major multilayer oil and gas condensate field in
the Severny licensed area, in the northern part of the Caspian sea. The field
was discovered with the first exploration well in Yuzhno-Rakushechnaya
structure, 220 km from Astrakhan.
The
primary well gave inflow of light water-free low sulfur oil with over 800 tons
per day flow rate at 0.2 MPa depression. Such flow rates in Russia are only
known at few wells (average flow rate in Russia is 10.5 tons per
day).
The
reserves of the new field under the “probable” and “possible” categories are
estimated to be 600 million barrels of oil and 1.2 trillion cubic feet of gas.
Completion of exploration, preparation and approval of the design documentation
for the development of the field will allow to upgrade the reserves in to the
“proved” category.
The
new field is the first predominantly oil field within the licensed areas of
LUKOIL in the Northern Caspian. 75% of the total reserves of the field is oil,
while all the other fields opened by the Company in the Caspian region are
mostly gas fields.
The
oil reserves of the new field considerably exceed those of the adjacent field
after Yu. Korchagin which is prepared for development, and favorably differ from
the latter by the main geological parameters. The new field surpasses the
previously opened fields in the Caspian region in its oil production
potential.
Preliminary
calculations show that the maximum oil production rate at the new field will
exceed 5 million tons and the accumulated production will be around 80 million
tons (with the extraction ratio of 0.5).
The
new field and the field after Yu. Korchagin set foundation for future vast
off-shore oil production infrastructure with reliable crude material base and
annual production rate of around 8 million tons.
The
new field is the major oil field which was ever opened in Russia for the last 10
years and allows LUKOIL to essentially increase efficiency of the expensive
works in the Caspian sea.
The
new field was give the name of Vladimir Filanovsky, famous oil man who made a
great contribution into the development of the national oil industry.
