LUKOIL Starts Production Drilling at Imilorsko-Istochniy License Area ahead of Schedule
The prompt launch thus puts the Company considerably ahead of schedule in the implementation of the Early Oil project at the Imilorsko-Istochniy license area. LUKOIL expects to lift first oil ahead of schedule as well. By now, 23 kilometers of 426mm oil pipelines, 42 kilometers of roads and a 74m bridge across the Entl-Imiyagun river have been constructed, 4 cluster sites are under development, 3D seismic data is collected for an area exceeding 1.5 thousand square km.
Imilorsko-Istochniy license area that includes Imilorskoye, Western Imilorskoye and Istochnoye fields is located in Khanty-Mansi Autonomous Okrug – Yugra. The in-place and recoverable oil reserves within the area in question total around 855.5 million tons, and 193.7 million tons, respectively.
LUKOIL Starts Oil Production at West Qurna-2 field in Iraq
LUKOIL starts commercial oil production at West Qurna-2 field in Iraq. The field’s current output exceeds 120 thousand barrels per day. West Qurna-2, one of world’s largest oil fields, is located in southern Iraq, 65 kilometers away from Basra. Its in-place oil reserves total 35 billion barrels. Phase one project development, “Early Oil,” was implemented in record time. A tanker arrived at Basra port in the south of Iraq in July to load the first oil batch as compensation of PJSC LUKOIL’s costs.
Production of Diamonds Starts at V. Grib Deposit
The mining and dressing facility was commissioned at V. Grib diamond deposit. President of the Russian Federation Vladimir Putin took part in the official ceremony dedicated to commissioning of the mining and dressing facility. The deposit is located 130 km north-east of Arkhangelsk. Open pit mining techniques are used in mining operations at this deposit. The scheduled production peak is expected to reach 4.5 million carats per year. The mining and dressing facility includes a dressing plant with a production capacity of around 4.5 million tons of ore per year, 26 MW power generation facilities, a rotation camp for 700 men, a lab complex, core storage, and environmental protection facilities, including treatment facilities, a fire station, and a mine rescue unit.
Participation in Cameroonian Offshore Project
LUKOIL acquires a 37.5% interest from UK’s Bowleven Plc to develop Etinde area on Cameroonian shelf as part of the Production Sharing Agreement (PSA). Etinde is located in the Gulf of Guinea near the border with Equatorial Guinea and includes three license blocks with a total area of 2.3 thousand square km. Thirteen out of sixteen wells drilled at the site brought positive results.
The First Private Sporting Arena Opened in Russia
Otkrytiye Arena, the home arena to Spartak Moscow club, was officially opened in Tushino, with PJSC LUKOIL as general sponsor. The day before the opening Russian President Vladimir Putin visited the Otkrytie-Arena facility. The Otkrytie-Arena has become Russia’s first stadium to be built with private funds: PJSC LUKOIL’s President and CEO Alekperov and Vice-President for Strategic Development Leonid Fedun both personally invested in the project. The Otkrytie-Arena can accommodate 42,000 spectators. In the years to come it is planned to expand the sports complex, including construction of a football training center, a multi-purpose arena and a park for outdoor activities, while in 2018 the arena will host FIFA World Cup matches.