Russia's largest independent oil producer by output OAO Lukoil Holdings (LKOH.RS) has postponed the launch of its Yuri Korchagan field in the Caspian Sea by three months to March 2010, the company's Chief Executive Vagit Alekperov said Tuesday.
Lukoil, 20%-owned by U.S. oil major ConocoPhillips (COP), had initially planned first commercial oil from Yuri Korchagan - the company's first project in the Caspian Sea - by December this year. Alekperov didn't say why the launch had been postponed.
A Lukoil spokesman said the delay wouldn't affect the company's production forecast for next year.
Earlier this month, Alekperov forecast Lukoil's 2010 oil production would be unchanged from this year's, with overall hydrocarbon output slightly higher.