LUKOIL oil company will be transporting the first crude oil from the Yuri Korchagin field located in the Russian sector of the northern Caspian Sea, to the port of Novorossiysk through Makhachkala, LUKOIL press release said. The 8,000DWT tanker Caspian Stream has been reportedly loaded with the first crude oil cargo. The crude will be transported by tankers to Makhachkala and then through Transneft pipeline to the port of Novorossiysk. The crude carriers are scheduled to be loaded once every ten days.
The oil field named after the former Chairman of the Board of Directors of LUKOIL Yury Korchagin, was discovered in 2000. It is located in the Russian sector of the Caspian Sea, on the Shirotnaya, 180 km from Astrakhan, and 240 km from Makhachkala. The sea depth - 11-13 m. Crude oil extraction in the North Caspian Sea, carried out by LUKOIL-Nizhnevolzhskneft, began in April 2010. The 3P deposit reserves exceed 270 million boe. The maximum level of extraction: crude oil - 2.5 million tons / year, gas - 1 billion cub m / year. Oil, extracted from the field with the help of marine offshore oil rig, is transported via the subsea pipeline (diameter - 300 mm, length - 60 km) to a 28,000dwt floating storage facility, made fast to a LUKOIL’s berth.
Earlier, the government subcommittee on customs-tariff policy of Russia has endorsed the proposal for preferential tariffs on exports of oil from the fields in the North Caspian Sea. The tariffs are effective from 2011.
The oil field named after the former Chairman of the Board of Directors of LUKOIL Yury Korchagin, was discovered in 2000. It is located in the Russian sector of the Caspian Sea, on the Shirotnaya, 180 km from Astrakhan, and 240 km from Makhachkala. The sea depth - 11-13 m. Crude oil extraction in the North Caspian Sea, carried out by LUKOIL-Nizhnevolzhskneft, began in April 2010. The 3P deposit reserves exceed 270 million boe. The maximum level of extraction: crude oil - 2.5 million tons / year, gas - 1 billion cub m / year. Oil, extracted from the field with the help of marine offshore oil rig, is transported via the subsea pipeline (diameter - 300 mm, length - 60 km) to a 28,000dwt floating storage facility, made fast to a LUKOIL’s berth.
Earlier, the government subcommittee on customs-tariff policy of Russia has endorsed the proposal for preferential tariffs on exports of oil from the fields in the North Caspian Sea. The tariffs are effective from 2011.