Vladimir Putin gave the green light on October 31, 2016, to start production at a new Caspian Sea field owned by oil producer Lukoil.
The field, which was found in 2005, is Russia’s largest oil discovery for the past 25 years and the second field commissioned by Lukoil in the Russian offshore sector of the Caspian Sea.
The field’s С1+С2 recoverable reserves under the Russian classification are estimated at 129 million tons of crude oil and 30 Bcm of gas.
The second stage of the field development is already underway, Lukoil said.
To fully develop the field’s reserves and maximize peak production, a second stage is under way that involves fabrication of the ISP-2 and LQP-2 platforms.
Vladimir Filanovsky is located in the northern Caspian Sea, 220 km (137 mi) from the city of Astrakhan, in water depths ranging from 7-11 m (23-36 ft).
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