Russia’s Lukoil believes it has discovered around 150 million BOE following analysis of the two wells it drilled at the Titonskaya structure on the Caspian Sea shelf. Work is now underway to refine the seismic models of productive deposits and study deep samples of formation fluids. The results of the assessment will be submitted to the State Reserves Commission of the Russian Federation. The structure is in the central part of the Caspian Sea, not far from the Khazri field.
Lukoil drilled the first well at the Titonskaya structure in 2020 and announced the new discovery in April 2021. According to that assessment, the probable geological resources of the Titonskaya are 130.4 million tons. In 2021, drilling of the second prospecting and appraisal well began to identify oil and gas deposits in the terrigenous-carbonate deposits of the Jurassic-Cretaceous age. The well was drilled using the Neptune jackup drilling rig.
The new find at Titonskaya will likely be tied into Khazri infrastructure.