Lukoil Completes 3rd Well at Filanovsky

LUKOIL COMPLETES DRILLING OF THE THIRD WELL OFFSHORE AT FILANOVSKY FIELD

LUKOIL has successfully completed drilling of the third well at offshore Vladimir Filanovsky field in the Caspian Sea. The horizontal section of the well is 1,217 meters long. The well flow is around 3,000 tons of crude oil per day. The field's total oil production currently amounts to approximately 9,000 tons per day.

V. Filanovsky field, discovered by LUKOIL in 2005, is the second field commissioned by the company in the Russian offshore sector of the Caspian Sea. The field's С1+С2 recoverable reserves, under the Russian classification, are estimated at 129 million tons of crude oil and 30 billion cubic meters of gas. The annual oil production at the plateau is estimated at 6 million tons.

Notes to editors:

The Vladimir Filanovsky field is located in the northern Caspian Sea, 220 km away from the city of Astrakhan. Water depth in the field's area ranges from 7 to 11 meters.

In its offshore operations, LUKOIL relies on high-tech equipment, ensuring a high level of process safety and environmental protection. In particular, the Company adheres to the "zero discharge" principle, and performs regular environmental monitoring including satellite monitoring of water, subsoil monitoring, pollution monitoring of the environment and wildlife resources.