Lukoil gains oil fields

Russian oil giant Lukoil has expanded its oil and gas reserves after discovering one new oil and gas field and acquiring another.

Filanovsky field, discovered in the Caspian Sea, holds reserves of 600 million barrels of oil and 1.2 trillion cubic feet of gas, according to Lukoil.

The oil is a low-sulphur, ultra-light crude, which Lukoil expects to trade at a $1.50/bbl discount compared to Brent crude.

Lukoil has also acquired Primorieneftegaz, including rights to drill in an undeveloped field

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