PJSC LUKOIL completed the construction of the second production well from the wellhead platform at the Yury Korchagin field in the Caspian Sea.
The single-bore well with horizontal completion was drilled from a jack-up rig. The measured depth of the well is 3736 m. The well's initial flow rate is approximately 600 t of crude oil per day. LUKOIL has already started drilling of the third production well at the Eastern part of the field.
LUKOIL applies a wide range of advanced technologies to ensure the development of the reserves in the most efficient way. In particular, an electro-hydraulic intelligent completion system was used for the first time at the new well. The system allows to control the valves of the horizontal wellbore in the real time mode, providing for an optimised oil influx and higher operational safety.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/14112018/lukoil-drill-second-well-in-yury-korchagin-field/
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Part of the company's 10-year plan includes a free cash flow of approximately US$50 billion based on a real WTI price of US$50/bbl and annual capital expenditures averaging less than US$7 billion over the decade.