"Oil Resource Production" (part of the Kirillitsa Group of Companies) has acquired the Lugovskoye oil and gas field in the Saratov region. The asset will be the group's first proprietary production project and will be used, in particular, as a site for pilot testing (PT) of enhanced oil recovery technologies developed by "Oil Resource" Research and Development Center.

The Lugovskoy license site is located in the Engelssky district of the Saratov region. The area of the site is 11.7 sq. km, and the license for exploration and production of hydrocarbons is valid until 2035. The field is one of the mature oil and gas assets with a proven drilling and production history. Exploration and production wells were previously drilled at the site confirming the presence of oil and gas influxes.

According to the company's experts, the greatest potential for further exploration is associated with Carboniferous and Devonian deposits. The first exploration well in the framework of the new stage of field development is planned to be built on Devonian deposits by the end of 2026. In addition, the company plans to drill six production wells by the end of the year and enter the stage of commercial production.

The company also plans to begin preparations for pilot tests of technological solutions of "Oil Resource" Research and Development Center in the coming months. The PTs at the Lugovskoye field is expected to be conducted in the autumn of 2026.

"The acquisition of our own field is an important stage in the development of our production line and the transition to the model of a full-cycle high-tech oil company.
Today, the oil industry is moving into a stage where not only the volume of reserves but also the efficiency of their extraction is becoming a key factor. That is why we consistently invest in enhanced oil recovery technologies and solutions for dealing with mature and hard-to-recover reserves.
Lugovskoye field will become one of the first sites for pilot testing of our technologies this autumn," commented Semyon Garagul, a shareholder of the Kirillitsa Group of Companies.