LUKOIL company stated that its production from West Siberian fields has reached 2 billion tons of oil since the beginning of the commercial development, a press release issued by LUKOIL announced.
This milestone came at the time of the company’s 30th anniversary. LUKOIL remarked that this achievement is a result of digitalizing the production and modernizing the equipment which allow to fully optimize technological processes of extraction, treatment and transportation of hydrocarbons.
The company elaborated that the production of the first billion tons was achieved in 1999. Currently, Lukoil operates at 120 license blocks in West Siberia. LUKOIL develops 79 fields such as the Shaim group in addition to a number of unique fields such as Uryevskoye, and Mortymya-Teterevskoye fields.
It added that 27 other fields are under prospecting and exploration noting that it has drilled more than 41,000 wells.