The V. Filanovsky field, discovered by LUKOIL in 2005, is the largest oil field in the Russian sector of the Caspian Sea, with initial recoverable reserves of 129 million tonnes of oil and 30 billion cubic meters of gas and annual target production of 6 million tonnes of crude oil. Commercial production at the field started on October 31, 2016 when Phase 1 of the field construction was launched.
Progress
As a result of the drilling program at the second development stage, the field's oil production is sustained at its plateau level of 6 million tonnes per year starting the second quarter of 2018.
As part of phase three LUKOIL completed construction of the first well in October 2019. The well was drilled with a floating jack up rig Neptune, mounted on a riser block platform
PRESS RELEASES
The field’s development comprises three phases
Phase 1, commenced in 2016, includes the following infrastructure: Ice Resistant Fixed Platform (IRP), Living Quarters Platform (LQP), the Riser Block (RB) and Central Processing Platform (CPP).
Phase 2, commenced in 2017 and aimed at supporting the annual plateau production level of 6 mln t, includes an IRP and LQP.
Phase 3 includes commencement of a wellhead platform in 2019.
Accumulated expertise from developing the Yu. Korchagin field to optimize technical solutions and double drilling speed
Unique geology and advanced technologies to drive record high flow rates and low lifting costs per barrel of production
Beneficial location with access to the Caspian Pipeline Consortium (CPC) pipeline system to save on transportation costs
The quality bank within the CPC ensures fair selling prices that reflect the high quality of the field's crude oi
Associated petroleum gas supplies to Stavrolen to drive full vertical integration and create high added value
Government support through special tax regime provides for higher margins per barrel at the production stage
The field has a unique geology, with highly permeable collectors yielding record-high initial flow rates which are 70 times higher than the initial flow rates of the Company’s other new wells in average. The field produces high-quality light low sulphur oil.
Production volumes are exported via the pipeline system operated by the Caspian Pipeline Consortium (CPC). The oil quality bank maintained by the CPC ensures that the Company gets fair selling prices that reflect the high quality of its crude. The associated petroleum gas from the field is supplied to the Stavrolen oil and gas chemical complex to be further processed into marketable gas and petrochemical products.
The field's infrastructure drives considerable synergies for other Caspian projects. Specifically, the production start-up at the field enabled us to start oil shipments from the Yu. Korchagin field via the CPC pipeline system, reducing transportation costs. Further projects that are planned to be developed by the Company in the Caspian will also seek to capture synergies with the V. Filanovsky field infrastructure. For example, the output from the Rakushechnoe field is to be delivered for treatment to the V. Filanovsky field's CPP and then exported via the CPC pipeline system. The Yu. Kuvykin field can also benefit from the transportation infrastructure of the V. Filanovsky field.
