LUKOIL Releases Financial Results Under IFRS for 2020
PJSC LUKOIL today released its audited consolidated financial statements for 2020 prepared in accordance with the International Financial Reporting Standards (IFRS). Financial highlights 4Q 2020 3Q 2020 12M 2020 12M 2019 (RUB bln) 1,530.3 1,456.7 Sales 5,639.4 7,841.2 189.6 202.2 EBITDA 687.1 1,236.2 29.4 50.4 Profit for the period attributable to shareholders 15.2 …
Government Delegations of Russia and Iraq Meet in the Oil Pavilion at Moscow’s VDNKH
Russian and Iraqi officials met in Moscow to discuss current situation on world oil market and prospects for cooperation in this field. The meeting took place in a landmark location, the Oil Pavilion at Moscow’s VDNKh that had been reconstructed by LUKOIL. The meeting was attended by Deputy Prime Minister of the …
LUKOIL: Saves Water in the Komi Republic
As part of its effort to minimize impact on water bodies of the Komi Republic, LUKOIL commissioned new water treatment facilities and commenced closed loop steam generation at its oil mines in Yarega, Pervomaisky and Nizhny Domanik settlements. Earlier on, the company had already installed a water reuse system at …
LUKOIL: Announces Reserves Assessment Results
PJSC “LUKOIL” (hereinafter – the Company) announces the results of the reserves assessment and independent audit as of December 31, 2020. According to the SEC classification, the Company’s proved hydrocarbon reserves totaled 15.4 billion barrels of oil equivalent, 76% of which stood for liquids. The proved reserves replacement ratio, excluding …
LUKOIL: Reports Preliminary Operating Data For The Fourth Quarter And Twelve Months Of 2020
In the fourth quarter of 2020 LUKOIL Group’s average hydrocarbon production excluding the West Qurna-2 project was 2,065 kboe per day, which is 9.5% higher quarter-on-quarter. The growth was attributable to the dynamics of the external limitations on oil production due to the OPEC+ agreement, as well as recovery of …
LUKOIL and Gazprom: Discuss JV for Vaneyvisskoye and Layavozhskoye Field Development
President of LUKOIL Vagit Alekperov and Chairman of the Management Committee of Gazprom Alexey Miller have held a working meeting in Saint Petersburg today. The parties discussed current issues of cooperation between the two companies. Special attention was given to the project of developing the Vaneyvisskoye and Layavozhskoye fields and, in particular, …
LUKOIL: Develops Its Own Completion System For Horizontal Wells
LUKOIL has become the first company in Russia to successfully develop and implement own completion system for horizontal wells. The high technological reliability of the new import substituting equipment will make it possible for the Company to start the commercial production of reserves which till recently was hindered due to lack …
Thirty Five Million Tonnes of Oil Produced at LUKOIL’s North Caspian Fields
LUKOIL’s cumulative production of oil has exceeded 35 million tonnes at its Yury Korchagin and Vladimir Filanovsky fields in the North Caspian Sea. LUKOIL carried on with these projects in 2020. In particular, new production wells were drilled, as well as side-track wells to intensify influx of hydrocarbons. In 2020, …
International Experience of Shale Oil Production: Implications for the Bazhenov Formation and Russian Equipment Manufacturers
1. Shale Oil in Russia and the Bazhenov Formation In Russia, the main volume of shale oil (LTO*) resources is located in the Bazhenov, Domanik, and Khadum formations, of which the first is the most promising. The Bazhenov formation is a group of mature source rocks found over an area …
LUKOIL and Gazprom Sign Master Agreement on Development of Two Fields in the Nenets Region
President of LUKOIL Vagit Alekperov and Chairman of the Management Committee of Gazprom Alexey Miller signed the Master Agreement on the Terms of the Development of Vaneyvisskoye and Layavozhskoye fields (located in the Nenets region, Russia) today. Governor of the Nenets Autonomous District Yuri Bezdudny also took part in the signing ceremony. …