Lukoil has reached another milestone with ten million tonnes of oil supplied from its Vladimir Filanovsky Field to the Caspian Pipeline Consortium (CPC) system, the company said on March 14.
Lukoil constructed a system of subsea and onshore pipelines to ship oil ashore. Before oil enters the CPC system and goes on for export, it is delivered to a tank farm of head onshore facilities.
The company exports oil in full compliance with the health, safety and environmental protection standards and operates all of its offshore facilities on the zero discharge principle. It means that the waste is transported on shore for safe utilization and recycling.
Elevation Resources CEO Steve Pruett explains why he thinks the pipeline constraints in the Permian Basin are temporary. Plus, Pruett spoke to Hart Energy about why Midland producers should be concerned about geopolitical events.
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The find, made in the Sakakemang block in South Sumatra, would translate into more than 350 million barrels of oil equivalent.