“Marine Industry of Russia”
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Lukoil to ship first batch of Caspian oil to Novorossiisk via Makhachkala
October 18, 2010
Lukoil will ship the first batch of oil from Yury Korchagin oil deposit, located in the Russian sector of the Northern Caspian to the port of Novorossiisk via Makhachkala. According to Lukoil’s Press Service, the first batch of oil has already been shipped to tanker Caspian Stream, which is of about 8,000 DWT. The tanker is going to sail to Makhachkala. Then the first batch of oil will be transferred through the Transneft pipeline network to the port of Novorossiisk. Tankers are planned to be stowed once every 10 days.
The development of Yury Korchagin oil deposit was previously reported to have started in April, 2010. The deposit was discovered by Lukoil in 2000. 3P hydrocarbon reserves exceed 270 million barrels of oil equivalent. The maximum production level of oil is 2.5 million tones a year, while maximum production level of gas is 1 milliard cubic meters a year. The oil, produced on the deposit by use of an offshore ice-resistant fixed platform is transferred through a 300-millimeter diameter and 60-kilometer length submerged pipeline to a FSO tanker of 28,000 DWT, which is berthed at a single-buoy mooring. Lukoil considered a possibility to transfer oil from the deposit on 4 different routs.
It is a reminder that the Russian Customs and Tariffs Policy Governmental Subcommittee endorsed a proposal to grant preferences for oil export from the Northern Caspian oil deposits on September 23, 2010. The preferences are expected to come into force as from 2011.
PortNews
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