Lukoil is the second largest oil-producing industry in the Lukoil Group. The Multithousand Enterprise is engaged in geological research, exploration, prospecting and extraction of hydrocarbon raw materials, oil and gas marketing, and oil transportation and storage.
The oil industry, Lukoil, is committed not only to the efficient absorption of the subsoil but also to the mineral and raw material base of the Pechora oil province. The work is based on the modern principles of resource and energy conservation, industrial and environmental safety, social partnership with the Komi Republic and the North Autonomous Region.
The main principle of the enterprise is to ensure that the stock increases at least at the level of production. The oil and gas industry works on deposits with different geological conditions. Different depths of abundance, a rich spectrum of oil and reservoir properties, involve a variety of approaches to search and development.
The Pechora region containing both oil province is classified as an intermediate geological-geophysical study. To date, over 200 oil and gas fields have been opened. The Republic of Komi accounts for 47 per cent of the stock, while the rest are in the Nenets Autonomous District.
Oil and gas production
The TIM-Pechora region containing both oil province remains one of the priority regions for Lukoil. The level of oil production in 2015 was 17 million tonnes, which is 4 times higher than at the beginning of the in region. Over the next 10 years, it is planned to open and operate more than 30 deposits, as well as to increase oil production to 20 million tonnes.