Russian oil and gas company, LUKOIL, produced 35 million tons (mmt) at its Yury Korchagin and Vladimir Filanovsky fields in the North Caspian Sea.

LUKOIL drilled the new production wells in 2020 producing over 7 mmt, in addition wells to intensify influx of hydrocarbons. The company began establishing infrastructure facilities at its third major Caspian project, Valery Grayfer field, which has an estimated plateau level is over 1 mmt of oil per year. It also installed jackets for the accommodation block in April and for the fixed ice-resistant platform in August. The topsides of both platforms are being built by shipyards in Astrakhan.

Additionally, the company drilled an exploration well at the Severo-Rakushechnaya prospective structure located north of Valery Grayfer field. It also continues exploration works at Khazri and Titonskaya structures located in the Central Caspian.

LUKOIL plans to continue establishing facilities in 2021 at the Valery Grayfer field. At its other offshore fields, exploration and production (E&P) will take place.