Project Profile
Value: 100 billion rubles (US$1.7 billion)
Geography: Bolshekhetskaya Depression, Yamalo-Nenets, Russia
Discovery: 1989
Start of development: 2009
Launch of production: 2016
Peak output: 34,000 bpd of oil and condensate (by 2021) and 5.2 bcm per year of gas (by 2018).
Reserves: 630 million barrels of liquids and 253 bcm of gas in C1+C2 category reserves.
LUKOIL-Western Siberia (a wholly owned subsidiary of LUKOIL) began drilling the first development well at the Pyakyakhinskoye field in April 2009. It is one of six LUKoil projects in the Bolshekhetskaya Depression. Commercial production began in October 2016, after LUKoil had drilled 72 oil and 31 gas wells.
An output of 30,000 bpd of liquids and 3 bcm of gas is expected in 2017. Crude oil and gas condensate extraction is scheduled to peak at 34,000 bpd in 2021 and remain at this level for eight years. Gas extraction will rise to 5.2 bcm per year by 2018. At the time of its launch, LUKoil had invested 100 billion rubles (US$1.7 billion) in the project.