Lukoil takes FID on Rakushechnoye project, in the Caspian Sea

MOSCOW -- Lukoil took the final investment decision on the Rakushechnoye field development project in the Caspian Sea.

The field infrastructure under the taken decision includes a fixed offshore ice-resistant platform, a living quarters platform, a crossover bridge, as well as subsea interfield pipelines and cable lines for the connection with the second fixed offshore ice-resistant platform at the V. Filanovsky field. The commercial production is scheduled to start in 2023. The expected oil production plateau is 1.2 million tonnes per year.

Close proximity to the Company's producing fields in the Caspian Sea made it possible to significantly optimize the field development project through the use of the existing infrastructure for treatment and transportation of products along with the power supply at the Rakushechnoye field. The Rakushechnoye field output will be supplied for treatment to the central technological platform at the V. Filanovsky field and then exported through the CPC.

All offshore facilities for the field development will be constructed in the Astrakhan Region. The Company intends to use the assembly site of OOO "LUKOIL-Nizhnevolzhskneft," as well as subcontractor's own production facilities.