Lukoil: Oil reserves rise sixfold at field in Timan-Pechora

PJSC Lukoil says recoverable crude oil reserves have increased more than sixfold at a field discovered in late 2011 in the Timan-Pechora basin in northern Russia.

Vostochno-Lambeyshorskoye field in the republic of Komi is now estimated to have 42.218 million tons of crude reserves. Initial estimates were 6.948 million tons.

Lukoil said seven exploration wells extending a total of 26,000 m were drilled in the past 4 years. In 2015, some 1.782 million tons of crude were produced. Cumulative production is 4.568 million tons.

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