Middle East Economic Survey


No 18



Lukoil Pumps First Oil From Offshore Caspian Yuri Korchagin Field

Russias Lukoil on 28 April announced that it had pumped Russias first crude from the Caspian Sea, from the Yuri Korchagin oil and gas field. The field was discovered in 2000 and between 2004 and 2009 the company invested RUR34.4bn ($1.17bn) in capital and operations. Lukoil said in a statement that it expects to extract 343,000 tons from the field during 2010...