The vertical six-string well, Well No.1P, is planned to be drilled into Lower Cambrian strata in the region. Lukoil said it would take 373 days to drill the well and mount it.
The firm completed a large-scale 2D seismic survey within the Vostochno-Taymyrsky license area in less than eighteen months and with coverage of 2,501km linear.
As part of the drilling program, more than 20,000 tons of materials and equipment have been delivered to the site through the Northern Sea Route.
Additionally, the construction work at the Vostochno-Taymyrsky license area will comply with international environmental standards and will involve advanced technologies, the company said.
Lukoil president and CEO Vagit Alekperov said: "In 2013, I reported to Russia's President Vladimir Putin that LUKOIL was ready to develop the Vostochno-Taymyrsky area, despite zero infrastructure, harsh climate and high costs.
“We completed a great deal of preliminary operations and once again proved our high competence and ability to meet challenges, as we started drilling the first exploratory well in the Vostochno-Taymyrsky license area six months ahead of schedule.
“We focus on replenishing Russia's resource base and developing it in the most effective way.”
The Vostochno-Taymyrsky block, which has concession period of 27 years, is operated by Lukoil-West Siberia, a fully-owned subsidiary of Lukoil. The block covers 13,800km2 area.
