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October 02, 2013Dmitry Medvedev, Prime Minister of the Russian Federation, visited the ice-rsistant platform at the Y.Korchagin field in the Caspian Sea. October 02, 2013President of Russia Dmitry Medvedev visited Krasnodarskaya Combined Heat and Power Plant (CHPP) of OOO LUKOIL-Kubanenergo and participated in the launch of a new 410 MW combined-cycle gas turbine (CCGT-410). October 8, 2011President of Russia Dmitry Medvedev visited Krasnodarskaya Combined Heat and Power Plant (CHPP) of OOO LUKOIL-Kubanenergo and participated in the launch of a new 410 MW combined-cycle gas turbine (CCGT-410). October 8, 2011The first large-tonnage oil shipment through the FOIROT (Varandey Oil Export Terminal). June 9, 2008The first large-tonnage oil shipment through the FOIROT (Varandey Oil Export Terminal). 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Prospective Projects

Western Siberia


Western Siberia
is the Companys traditional hydrocarbon  production region, so most of its oil fields there are highly depleted. Prospects for increase of hydrocarbon production  in the region depend on the acquisition of new licenses and well interventions. The development of gas fields in the region should also boost overall production efficiency.


Imilorsky area

The Imilorsky area has considerable potential, and development time and costs at the area will be reduced by the presence nearby of developed infrastructure under LUKOILs control. Proved oil reserves at the area where test production is to be carried were 14.9 million barrels as at the end of 2013. First production from the field is expected in 2015.


Vinogradov field (low-permeability reservoirs)

Located within the boundaries of two license areas (Bolshoy and Olkhovsky). Initial recoverable oil reserves are about 560 million barrels (Russian classification).


Bolshekhetskaya Depression

Fields in the Bolshekhetskaya Depression are the mainstay of Company gas production in Russia, and target production at the fields is 20 billion m3. Proved gas reserves in the region at the end of 2013 were 11.2 trillion cubic feet, and production of marketable gas during the year was 8.3 billion m3.


Major gas fields scheduled for launch in the future are Pyakyakhinskoye (2016), Yuzhno-Messoyakhskoye (2018) and Khalmerpayutinskoye (2019).


Western Siberia
in depth:

ü        Fact book p. 25-29

ü        LUKOIL Annual Report  - p. 33-34

ü        Data book p.26-29

TimanPechora

The Timan-Pechora oil & gas province has significant  potential for production growth, particularly associated with development of the Denisovskaya Depression and high-viscosity oil fields. Heavy oil accounts for about 4.5% of the Companys total proved reserves, and most of it is located at the Yaregskoye and Usinsk fields. Development of the Trebs and Titov fields in a joint venture also holds out prospects for increase of hydrocarbon production in the region.


Denisovskaya Depression

The Denisovskaya Depression includes the Vostochno-Lambeishorskoye field and the Bayandyskaya group of fields. Proved oil reserves at Vostochno-Lambeishorskoye at  the end of 2013 were 94 million barrels and production during the year was 870 thousand tonnes. The annual production target at the field is 1.3 million tonnes  (9.5 million barrels).


Yaregskoye field (high viscosity oil)

The Yaregskoye field is the Companys largest field with high-viscosity oil. Proved oil reserves at the end of 2013 were 321 million barrels and extraction during the year was  582 thousand tonnes.


Usinsk field (high-viscosity oil)

The Permian-Carboniferous pool at the Usinsk field is  the Companys second largest source of high-viscosity oil. Proved oil reserves there at the end of 2013 were  562 million barrels and production during the year was 2,506 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. Proved oil reserves at the end  of 2013 as measured for purposes of test production were  21.3 million barrels. Oil production in 2013 was 291 thousand tonnes.


Timan-Pechora in depth
:

ü        Fact book p. 29-32

ü        LUKOIL Annual Report  - p. 35

ü        Data book p.30-31

Northern Caspian


The Northern Caspian is a one of the key regions for growth of oil & gas production by LUKOIL in the medium term. Proved reserves in the region to international standards have increased by 35% over a period of five years thank to successful exploration drilling.


Yu. Korchagin field

LUKOILs first production in the Russian sector of the Caspian Sea was in 2010 at the Yu. Korchagin field. Proved hydrocarbon reserves at the field at the end of 2013 were 121 million boe and production during the year was 1,372 thousand tonnes.


V. Filanovsky field

The second field to be launched by LUKOIL in the Caspian will be the V. Filanovsky field, where proved hydrocarbon reserves at the end of 2013 were 487 million boe. Start of production  at the V. Filanovsky field is scheduled at the end of 2015 and target output of 6.1 million tonnes per year should be achieved in 2016.


Northern Caspian
in depth:

ü        Fact book p. 33-34

ü        LUKOIL Annual Report  - p. 36

ü        Data book p.33

 

Prospective projects outside Russia

Prospects for increasing hydrocarbon production in foreign projects are mainly related to the development of existing assets in Uzbekistan and Iraq.


Uzbekistan


LUKOILs main gas projects outside Russia are in Uzbekistan. The Khauzak-Shady and Southwest Gissar projects are both at the production stage and one other major project,

Kandym, is scheduled for launch in the next few years. The projects are on attractive financial terms for the Company with support from the government of Uzbekistan. Proved hydrocarbon reserves at fields in Uzbekistan at the end of 2013 were 860 million boe and production during the year was 25 million boe. The target annual production level at projects in Uzbekistan is 18 billion m3 of gas.


Uzbekistan
  in depth:

ü        Fact book p. 45-46

ü        LUKOIL Annual Report  - p. 37

ü        Data book p.38

 

Iraq

The largest of LUKOILs projects to ensure future growth of production is West Qurna-2, located in Iraq. Proved oil reserves (Group share) at the end of 2013 were 184 million barrels.


Production started on March 29, 2014. Total duration of the contract is 25 years. The target level for oil production is 1.2 million barrels per day, to be maintained for a period of 19.5 years.


Iraq
in depth:

ü        Fact book p. 47-48

ü        LUKOIL Annual Report  - p. 37

ü        Data book p.38

 

 





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