Current mechanical methods for oil extraction are based on electric motor drive systems. The existing schemes of oilfield power supply and electrical system operating modes actualize the development and implementation of energy conservation measures and high potential lying in raising the energy efficiency of oilfield equipment. With the current state of the power supply network, new oil wells and increasing power consumption associated with the growth of crude oil production require new technical and organizational measures ensuring reliability of power supply, reduction of energy losses and maintenance of the desired voltage level of the operating equipment. This paper presents an example of a technical solution, its justification and implementation aimed at reducing energy losses in the oilfield electrical power network. Reactive power compensation devices and filter compensating devices gradually put into operation within the existing power schemes enabled to increase flow capacity of the power transmission line in order to commission a new oil well. The authors have analyzed the operating modes of electrical system used at two oil fields and showed a potential for introducing effective energy conservation measures.