Lukoil starts oil production at the Grayfer field in the Caspian Sea

Lukoil Oil Company starts production at the Grayfer field in the Caspian Sea. Production shelf at the field is 1.2 mln tons of oil per year. Recoverable oil reserves are 19.2 million tons. Lukoil's accumulated production in the Russian sector of the Caspian Sea reached 50 million tons of liquid hydrocarbons. Company has discovered 11 fields in the Caspian Sea.