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.
Approval depends on the publication of a Ministry of Mines and Energy decree that does not violate the rights and conditions from the contract Petrobras has already negotiated, the company said in a statement.
Predictive production modeling shows which variables influence production the most for parent and child wells.
The company said May 20 it was officially awarded an exploration license for the 4,418-sq-km block after placing the winning bid during Argentina’s international bid round April 16.