Vladimir Putin tries his hand in oil production

During his visit to Astrakhan on April 28, Prime Minister Vladimir Putin toured the Yury Korchagin oil platform and commissioned oil production in the Russian sector of the Caspian Sea by pushing the button to launch the region’s first oilrig.

A few minutes later, oil started coming to the surface. According to oil worker tradition, you have to smear your face with this oil. Vladimir Putin followed the tradition.

Following another tradition, Vladimir Putin signed his name on the platform.

The prime minister flew by helicopter to the off-shore oil platform, which was designed and built by Russian specialists.

Vladimir Putin was briefed on how unique the field was: it has proven reserves of 29 million barrels of oil and almost 64 billion cubic meters of natural gas.

LUKoil, Russia’s largest private oil company, which is developing the Korchagin field, has set high standards in the region both in terms of environmental protection and supporting related industries, Vladimir Putin said.

The company will invest over $12 billion in developing its projects in Astrakhan in the near future. Photo: Vladimir Putin on LUKoil fixed platform in the Caspian Sea. LUKoil’s President Vagit Alekperov (right).

The Caspian region is very important for the Russian oil production industry: eleven oil and natural gas fields with reserves of 4.7 billion barrels have been discovered here. The region’s total reserves are estimated at 4.5 billion tons of oil equivalent. Another significant factor is that the Caspian Sea is close to the transportation infrastructure and the retail market. Photo: Vladimir Putin on LUKoil fixed platform in the Caspian Sea. LUKoil’s President Vagit Alekperov (left).

The prime minister added that when LUKoil commenced its operation in the Caspian region, it set high standards for the entire industry.