LUKOIL Commissions Third Well at Filanovsky Field Second Stage
LUKOIL completed the construction and commissioned the third well at the second development stage of the Vladimir Filanovsky field in the Caspian Sea. This is a bilateral horizontal oil producing well. The length of the main wellbore is 3,795 meters while the lateral is 3,762 meters long. Well’s initial flow rate exceeded 3.2 thousand tonnes of …
LUKOIL: To Invest $270 mln on Exploration in the Zhenis Block
Russia’s second largest oil company Lukoil plans to invest $270 million in exploration at the Zhenis licence area in the Kazakh part of the Caspian Sea, Lukoil’s president Vagit Alekperov said in Astana on Tuesday. Lukoil and Kazakh state oil company KMG signed an agreement in principle on Tuesday for …
LUKOIL and KazMunayGas Conclude Agreement on Caspian Project
President of LUKOIL Vagit Alekperov and Chairman of the Management Board of the National Company KazMunayGas Sauat Mynbayev signed a Principles Agreement on Zhenis license area, in Astana today. According to the agreement, the parties will establish a consortium upon completion of relevant procedures, required for the agreement to enter …
Lukoil Puts Iran Plans on Hold Due to Threat of U.S. Sanctions
Lukoil, Russia’s second biggest oil producer, said on Tuesday it had decided not to go ahead with plans to develop projects in Iran at the moment due to the threat of U.S. sanctions, a company official said. The United States plans to impose new sanctions on Iran after pulling out …
LUKOIL Reports 1Q 2018 IFRS Results
PJSC “LUKOIL” today released its condensed interim consolidated financial statements for the three-month period ended 31 March 2018 prepared in accordance with International Financial Reporting Standards (IFRS). Financial Highlights 1Q 4Q 1Q 1Q 2018 2017 2018 2017 (RUB bln) 1,630.7 1,662.5 Sales 1,630.7 1,431.6 219.5 223.7 EBITDA 219.5 …
Karachaganak: Dispute to End Shortly?
Kazakhstan aims to settle its profit-sharing dispute with energy majors developing the Karachaganak gas condensate field within a month, the energy minister said on Thursday. The former Soviet republic expects a large one-off payment from the companies and a higher share of future revenues from the development of one of …
LUKOIL Reports 1Q 2018 Preliminary Operating Data
The LUKOIL Group’s average daily hydrocarbon production excluding West Qurna-2 project in the first quarter of 2018 was 2,286 thousand boe per day, which was 3.3% higher year-on-year and flat quarter-on-quarter. The growth was driven by the development of gas projects. Hydrocarbon production, thousand boe per day 1Q 2018 4Q …
LUKOIL: Completes Denisov Depression Models
LUKOIL has built an integrated geological and geophysical model of fields and exploration structures of the Denisov depression in Timan-Pechora oil and gas province. The modelling, completed with 3D seismic surveys, provides greater accuracy of structure mapping and significantly contributes to the quality of pre-drilling at prospective features. Four oil …
LUKOIL NVN: Installs Yuri Korchargin Wellhead Platform
LUKOIL has completed the installation of the wellhead platform’s topside as part of Yury Korchagin field Phase 2 development in the Russian sector of the Caspian Sea. The wellhead platform is a satellite platform designed to drill wells in the eastern part of the field. Drilling at Phase 2 is …
LUKOIL Produces One Million Tonnes of Oil at Yarega Field in 2017
LUKOIL has reached another milestone with one million tonnes of oil produced at Yarega field, in the Komi Republic, since the beginning of 2017. The company plans to increase Yarega’s production by 20%, as compared with 2016. The meterage of horizontal wells, drilled with steam-assisted gravity drainage, will be increased …