Russian Lukoil has started drilling on the Vladimir Filanovsky field in the Russian sector of the Caspian Sea, according to Caspian Energy, part of the United Ship-building Corporation. The drilling is done from the stationary platform LSP-1.
Before work started it had the approval of regulatory agency Rostekhnadzor, and it is now 21 metres down, meaning the offshore stage of LSP-1 construction is on schedule, it said. The field was discovered in 2005 and its extractible resources stands at 153.1mn mt oil and 32.2bn m3 of gas.
Despite declining gas revenues, Russia seems determined to develop upstream and boost exports, even offering discounts. Gazprom cut the price of gas for Armenia last week by $15 to $165/’000 m3.
Natural Gas Europe