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Prospective Projects

Western Siberia


The Company is now at the peak of its investment cycle, investing in new projects and prospective regions and laying a firm foundation for hydrocarbon production growth going forward.
Western Siberia remains the Groups core hydrocarbon producing region with most of its oil fields highly depleted. The prospects for production increase in the region depend on the acquisition of new licenses and application of new technology. The development of gas fields can be another driver of increased hydrocarbon production here.

→The Imilorsko-Istochny license area

The Imilorsko-Istochny license area consists of two deposits, specifically the Imilorskoye field plus the Zapadno-Imilorskoye field, and the Istochnoye field. Leveraging the Groups developed infrastructure nearby, LUKOIL can exploit its considerable potential at a shorter time and with reduced costs.


→Vinogradov field (low-permeability reservoirs)

The field is located within the boundaries of two license areas (Bolshoy and Olkhovsky). Drilling operations intensified resulting in 51 wells drilled. LUKOIL commissioned 32 production wells with an average production rate of 154 barrels per day, including 17 horizontal wells and 15 directional. wells. The local production of oil and condensate made 83.9 thousand tonnes in 2014.
 

→The Bolshekhetskaya Depression

LUKOIL Groups gas output in Russia is focused on the fields of the Bolshekhetskaya Depression with a target production of 20 billion m3. LUKOIL plans to launch large-scale gas fields, specifically the Pyakyakhinskoye field (scheduled for 2016), the Yuzhno-Messoyakhskoye field (scheduled for 2018) and the Khalmerpayutinskoye field (scheduled for 2019).

 

  LUKOIL Annual Report p.30
  Fact Book p. 25
  Data Book p. 16

                          

 

 

TIMAN-PECHORA


The Timan-Pechora oil and gas province has a great potential for production growth, particularly associated with development of
the Denisovskaya Depression and high-viscosity oil deposits. Mostly deposited at the Yaregskoye and Usinskoye fields, heavy crude oil
accounts for 4.4% of LUKOILs proved hydrocarbon reserves. The prospects for production increase in the region also depend on the JV to develop Trebs and Titov fields.

→ Denisovskaya Depression

The Denisovskaya Depression includes the Vostochno-Lambeishorskoye field and the Bayandyskaya group of fields.  In 2014, LUKOIL Group reached its production target at the Vostochno-Lambeyshorskoye field, up 76% (661 thousand tonnes) y-o-y, which was the highest output across all of its Russian operations in 2014.


→ The Yaregskoye field (high-viscosity oil)
 
The Yaregskoye field is the Companys largest field with high-viscosity oil. Proved oil reserves at the end of 2014 were 327 million barrels and extraction during the year was  690 thousand tonnes. 

→ Usinsk field (high-viscosity oil)

The PermianCarboniferous deposit at the Usinskoye field is typical of excessively high-viscosity oil. Its development is based on thermal
recovery methods.  Proved oil reserves there at the end of 2014 were  566 million barrels and production was 2,067 thousand tonnes.

→ Trebs and Titov fields

In 2011 LUKOIL and JSC Bashneft created a joint venture to develop the Trebs and Titov oil fields. LUKOIL has 25.1% interest in the venture.  The fields saw oil production of 828 thousand tonnes in 2014 (137.5 thousand tonnes attributable to LUKOIL Group). Peak production is planned at 4.8 million tonnes per year.

 

 

LUKOIL Annual Report p.31
Fact Book p. 20
Data Book p. 29
                                                                                                                                                                                                                                                                                                                                                                                                                                           

 

Northern Caspian


The North Caspian region is key to LUKOIL Groups oil and gas production growth in the medium term. Five years of exploration
drilling progress in the region helped LUKOIL achieve a 40% growth of proved hydrocarbon reserves under international standards.

→ Filanovsky field

Filanovsky field is the second field launched by LUKOIL in the Caspian. Proved oil reserves at the end of 2014 were 423 million barrels.
Production start is scheduled for 2016

LUKOIL Annual Report p.32
Fact Book  p. 23
Data Book  p. 32

PROSPECTIVE PROJECTS ABROAD

The production increase potential of LUKOILs portfolio of international projects rests mainly in the development of LUKOILs existing assets in Uzbekistan and Iraq.



Uzbekistan



LUKOIL Groups most efficient gas projects are in Uzbekistan. Production is in progress at Khauzak-Shady and Southwest Gissar while another large-scale project at Kandym is to be launched in the short run. The Group enjoys an attractive financial environment supported by the government of Uzbekistan. Proved hydrocarbon reserves at fields in Uzbekistan at the end of 2014 were 939 million boe  The Groups projects in Uzbekistan saw production of 23 million boe in 2014 (attributable to LUKOIL).


LUKOIL Annual Report  - p. 33
Fact book p. 30
Data book p.34

                                           


Iraq


Located in Iraq, West Qurna-2 is one of LUKOIL Groups largest projects set to ensure its oil production growth going forward.  It saw oil production of 6,087 thousand tonnes in 2014. The target oil production rate is 1.2 million barrels per day, to be maintained for 19.5 years.

West Qurna-2 with its planned oil production of 1.2 million barrels per day is one of top 5 global projects yet to reach peak production. With the project on stream, the Group confirmed its capability to manage challenging large-scale projects on its own and reinforced its positions as a global energy producer.

LUKOIL Annual Report  - p. 34
Fact book p. 32
Data book p.34

 


 

            





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