The Russian government has increased the volume of oil extracted on the Korchagin oil and gas condensate field (the northern part of the Caspian Sea developed by LUKoil), which is liable to preference, reported the government.
The volume of oil from the Korchagin field liable to preferential duties increased up to 25,159,000 tons from 1,522,000 tons and for the Prirazlomny from 68,500 to 27,728,000 tons.
Yurii Korchagin field is the oil and gas condensate field located in the north part of the Caspian Sea 180 km away from Astrakhan and 240 km away from Makhachkala. The sea depth on the section is between 11 and 13 meters. The 3PN category resources is 500 million barrels of oil equivalent.