Commercial oil production from the Valery Grayfer field is planned for 2022. Credit: LUKOIL.

Russian oil and gas firm Lukoil is moving ahead with the development of the Valery Grayfer field in the Caspian Sea.

As part of the development, the company will launch the jacket of the living quarters platform for the Valery Grayfer field from the yard.

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Discovered in 2001, the Valery Grayfer field is 160km from the port of Astrakhan and 100km from the western coast.

Commercial oil production from the field is scheduled for 2022.  The field is designed to have a 1.2 million tonnes per annum (mtpa) capacity.

Furthermore, the company said it continues developing the V. Filanovsky and Yury Korchagin fields, with the accumulated production from both these projects nearing to 30mt.

The V. Filanovsky field involves three phases of facilities, comprising a wellhead platform with less workforce involvement.

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According to the company, the drilling of single-bore horizontal gas injection well #102 was completed on the ice-resistant fixed platform.

In a press statement, Lukoil said: “Drilling is in progress on phase 2 facilities of the Yury Korchagin field to unlock reserves in the eastern part of the field as well as additional drilling on phase 1 facilities of the project.

“The first producing well reaching the Callovian deposits was drilled from the ice-resistant fixed platform that has an intelligent completion system and a vertical depth as big as 1985m.”

Discovered in 2005, V. Filanovsky field became the largest discovery ever in Russia since 25 years. Commercial production on the field started in 2016.

Meanwhile, Yury Korchagin field was discovered in 2000 and came online in 2010.

In October last year, the Abu Dhabi National Oil Company (ADNOC) awarded Lukoil a 5% share in the Ghasha gas concession in the Persian Gulf.

Last June, Lukoil acquired a 25% interest in the Marine XII licence offshore the Republic of Congo for $800m.