The Oilfield Services Subsidiary of Public Joint Stock Company LUKOIL Has Increased Its Turnover
The oilfield services enterprise SpetsPromService, in which Public Joint Stock Company LUKOIL holds a 49.5 percent stake, increased its revenue six hundredfold in the year 2024, reaching 20.4 billion Russian rubles, according to a report by Kommersant. The publication notes that the revenue figures of SpetsPromService are now comparable to …
Lukoil Reduces Oil Production by 2.6 Percent in 2024
According to its annual report, Russian oil company Lukoil reduced its oil and condensate production in 2024 by 2.6 percent, excluding the West Qurna-2 project, to 80.4 million metric tons. Production within the Russian Federation also declined by 2.6 percent, totaling 76.5 million metric tons, which accounted for approximately 15 …
Lukoil Reduces Proven Hydrocarbon Reserves by 3% in 2024
Lukoil’s proven hydrocarbon reserves decreased by 3% in 2024, totaling 14.689 billion barrels of oil equivalent (boe), according to materials prepared for the company’s upcoming annual shareholders’ meeting. The company noted that 75% of its proven reserves are liquid hydrocarbons, while 25% are natural gas. Russia accounts for 91% of …
Lukoil Reduces Gas Production by 2.3%
Lukoil Reduces Gas Production by 2.3% in 2024 Lukoil reported a 2.3% decrease in gas production for 2024, totaling 34.3 billion cubic meters, according to the company’s annual report. “Gas production in 2024 amounted to 34.3 billion cubic meters, which is 2.3% lower than the previous year,” the report stated. …
Drilling Rig on the Ghana Shelf Is Waiting for an Investment Decision on the Project with LUKOIL
The final investment decision on the Pecan project offshore Ghana has not yet been accepted, but a floating drilling rig has already been brought to the site. A floating drilling rig is ready to start work at the Pecan field offshore Ghana (LUKOIL is involved in the project), but the …
Alexander Novak: Moscow and Baku Are Considering a New Project on the Caspian Shelf
Russia and Azerbaijan are considering the possibility of implementing new joint projects, including on the Caspian shelf, Russian Deputy Prime Minister Alexander Novak said. “In general, there are a number of new projects, including on the Caspian shelf, which is being considered potentially for joint implementation,“ he told RT. According …
The Graifer field Will Be Brought to Its Design Capacity of 1.2 Million Tons in 2028
The output of the design capacity of the Valery Graifer deposit in the Russian sector of the Caspian Sea of 1.2 million tons is planned for 2028, according to the state report on the state and use of mineral resources in 2022, published by the Ministry of Natural Resources and …
Lukoil Has Invested $7.5 Billion in Projects in Uzbekistan Over 20 Years
During its work in the republic, the company produced 134.4 billion cubic meters of natural gas. Over the course of 20 years of work in Uzbekistan, Lukoil has invested $7.5 billion in projects in this country. The company’s press service reported this in connection with the 20th anniversary of work …
The Head of Congo Discussed with Lukoil the Company’s Participation in the Country’s Oil Projects
President of the Republic of Congo Denis Sassou Nguesso said in an interview with RIA Novosti that during his visit to Moscow he discussed with Lukoil its participation in oil projects in the Congo as an operator; he sees good prospects for this. Currently, Lukoil operates in the Republic of …
The EU Imposed Sanctions Against the Oilfield Services of Eurasia Drilling Company and SSС
The European Union included in the sanctions list of large oil and oil contractors – Eurasia Drilling Company (EDC) and JSC Siberian Service Company (SSС), the publication reported in the EU official journal. In addition, the sanctions were imposed against another oilfield company – the Novosibirsk LLC Neftegazpromstroy. The EDC was …