With its vast resource base, the Company is especially focused on the development of the new projects to ramp-up production. The new projects include both development of new fields and enhancing recovery at mature fields through the use of advanced technologies, increased production drilling, and a higher number of EOR operations.
LUKOIL has pioneered the development of the Russian sector of the Caspian Seabed, with its efforts resulting in the discovery of nine fields in the region with combined initial recoverable reserves of 7 billion barrels of oil equivalent.
LUKOIL has unparalleled expertise in Baltics operations. Our first offshore field, the Kravtsovskoye, was put on stream in the Baltics in 2004. New fields in the Baltic Sea were discovered in 2015, opening up new prospects for the region's development.
The Timan-Pechora oil and gas province has strong potential for high-viscosity oil production growth. The Group's high-viscosity crude oil reserves are predominantly located in the Yaregskoye and Usinskoye fields.
West Siberia is LUKOIL's core oil producing region.
We are developing two gas projects in Uzbekistan.