facebook
twitter
rss
account
search
search
 

Lukoil gets early start on central Russian oil prospect

Feb. 25, 2014 at 8:30 AM   |   Comments

MOSCOW, Feb. 25 (UPI) -- Russian oil producer Lukoil announced Tuesday production operations began at the Imilorsko-Istochniy license area in central Russia well ahead of schedule.

Lukoil said drilling operations started at a license area expected to hold at least 1.4 billion barrels of oil. So far, the company said it's built 14 miles of pipelines and 26 miles of road in anticipation of full production.

Production drilling was planned originally for September.

"The prompt launch puts the company considerably ahead of schedule in the implementation of the early oil project at the Imilorsko-Istochniy license area," the company said in a statement. "Lukoil expects to lift first oil ahead of schedule as well."

The company said future exploration activity includes 11 new wells in areas not proven to hold natural resources. More seismic surveys are planned for the future in order to get a better understanding of the reserve potential in the Imilorsko-Istochniy license area.

© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Apple sells 10 million new iPhones during the first weekend Apple sells 10 million new iPhones during the first weekend
2
Iran could retool pipeline for Pakistan Iran could retool pipeline for Pakistan
3
Starbucks testing a latte that tastes like beer Starbucks testing a latte that tastes like beer
4
Iraq relying on oil wealth from Basra Iraq relying on oil wealth from Basra
5
Arctic oil bound for Europe, Gazprom Neft says Arctic oil bound for Europe, Gazprom Neft says
Trending News
Video
x
Feedback