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Lukoil Begins Phase 2 Drilling at Filanovksy Field in Caspian Sea

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12/07/2017 | 01:26 pm


By Adam Clark





Lukoil PJSC (LKOH.MZ) said Thursday that it has started drilling the first production well at phase 2 of its Vladimir Filanovsky offshore oil field in the Caspian Sea.



The Russian oil company said drilling is expected to be completed in early 2018, and that the phase 2 facilities will allow it to reach stable production of 6 million tons of oil a year.



Lukoil said that currently there are six production and two injection wells operating at the phase 1 facilities, and cumulative production has surpassed 5 million tons of oil.



Shares in Moscow are down 15.50 rubles, or 0.5%, at 3387.50 rubles at 1206 GMT.





Write to Adam Clark at [email protected]; @AdamDowJones





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