Weekly HEG Global Energy Digest

Oil Market:

LUKOIL drilled the 2nd well in the Eastern part of the Yuri Korchagin field

LUKOIL completed the construction of the 2nd production well from the wellhead platform at the Yury Korchagin field in the Caspian Sea.

The single-bore well with horizontal completion was drilled from a jack-up rig. The measured depth of the well is 3,736 meters. The well’s initial flow rate is approximately 600 tonnes of crude oil per day. LUKOIL has already started drilling of the third production well at the Eastern part of the field.


LUKOIL applies a wide range of advanced technologies to ensure the development of the reserves in the most efficient way. In particular, an electro-hydraulic intelligent completion system was used for the 1st time at the new well. The system allows to control the valves of the horizontal wellbore in the real time mode, providing for an optimized oil influx and higher operational safety.


The Yury Korchagin field was the 1st discovery of LUKOIL Group in the North Caspian oil & gas province. Commercial production started in 2010. The cumulative oil production is 8.6 million tonnes. All the offshore facilities for the development of the field have been built in the Astrakhan Region.

Article Source: https://www.energymarketprice.com/energy-news/lukoil-drilled-the-2nd-well-in-the-eastern-part-of-the-yuri-korchagin-field



Albania completes first renewable energy support auction in Energy Community

Albania has successfully completed the first-ever renewable energy support auction in the Energy Community, the Energy Community Secretariat said.

Last week, Albania’s energy ministry said it has selected a consortium led by India Power Corporation for the construction of a 100 MW solar park worth 70 million euro ($79.3 million) in Akerni area, near the southwestern port city of Vlora.

“We warmly welcome the first renewables support auction in Albania and hope that it will be followed in all Contracting Parties,” director of Energy Community Secretariat Janez Kopac said in a press release on Wednesday.

“Renewable energy auctions provide a competitive selection processes for granting support, resulting in lower renewable energy prices. This is a clear gain for energy consumers,” Kopac added.

The renewable energy auction in Albania was preceded earlier this year by Montenegro granting the tender for the construction on state-leased land and operation of a solar PV project with an installed generation capacity of 250MW without support, the statement added.

The tie-up comprising India Power, Mining Resources FZE based in the United Arab Emirates and Hong Kong-based Midami Ltd offered a combination of technical and financial credibility, price and additional capacity, the Albania’s energy ministry said in a press release last week.

Article Source: https://www.energymarketprice.com/energy-news/albania-completes-first-renewable-energy-support-auction-in-energy-community


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