Lukoil: Cuts Teeth at Vladimir Brib Diamond Field
Vladimir Putin, President of the Russian Federation, and Vagit Alekperov, OAO LUKOIL President, participated in a festive celebration today dedicated to the commissioning of a mining and concentration complex at the Vladimir Grib field. The V.Grib field development project is among the higher priority investment projects, approved by the RF President, …
KCA Deutag: Awarded $90m Lukoil Contract
The Land division of KCA Deutag, one of the world’s leading international drilling and engineering contractors has been awarded a contract worth more than $90m USD by Russia’s second largest oil company, Lukoil for the supply of two arctic cluster slider rigs in the northern republic of Komi, Russia. The …
LUKoil: Q1 Results – Income Down, Sales Up, Lifting Costs Down
LUKOIL has published consolidated US GAAP financial statements for the first quarter of 2014. The Company’s net income amounted to $1,733 million. EBITDA (earnings before interest, taxation, depreciation and amortization) reached $3,995 million in the first quarter of 2014. Sales revenues were $35,681 million (+5.7% y-o-y). Net income for the …
LUKoil and Total Sign Unconventional Joint Venture
As part of the St. Petersburg International Economic Forum 2014, Vagit Alekperov, OAO LUKOIL President, and Christophe de Margerie, CEO and Chairman of Total Group’s Board of Directors, agreed on general conditions of participation in a joint project focused on the exploration and development of unconventional hydrocarbon reserves in the Khanty-Mansi Autonomous Okrug-Yugra …
Tight Oil Developments in Russia: Part 2
James Henderson The Oxford Institute for Energy Studies Click here to read part 1 3. Corporate Activity in Russia’s Tight Oil Reservoirs Rosneft As befits Russia’s National Oil Company, Rosneft has taken the leading role in the development of the country’s tight oil reserves, in particular since the announcement of …
Bashneft And Lukoil Establish JV To Conduct Geological Exploration And Develop License Areas In The Nenets Autonomous District
JSOC Bashneft and OJSC Lukoil have established a new joint venture (JV), LLC Vostok NAO Oil Company, to conduct geological exploration and prospecting and produce hydrocarbons at the companies’ license areas in the Nenets Autonomous District. ‘We welcome greater cooperation with Lukoil. Successful development of the Trebs and Titov fields in the Nenets Autonomous District has proved …
LUKOIL: Approves Annual Report – Proven Reserves to Last 21 Years
The OAO “LUKOIL” Board of Directors granted tentative approval to the Annual Report of OAO “LUKOIL” for 2013, in Moscow today, in accordance with the Federal Law of the Russian Federation on Joint-stock Companies and the company’s Charter. The document is recommended for approval at the General Shareholders Meeting of …
LUKOIL Optimizes Hydrocarbon Asset Portfolio in Kazakhstan
Vagit Alekperov, OAO LUKOIL President, signed a purchase and sale agreement today that allows the company to sell its 50-percent stake in the Caspian Investment Resources Ltd to China’s Sinopec. The total price of the shares for sale will be around USD 1.2 billion and will be subject to a number …
LukOil to sell stake in Caspian Investment
LukOil has agreed to sell its 50% stake in Caspian Investment Resources Ltd to China’s Sinopec for around $1.2bn, subject to adjustments at closing. Caspian Investment Resources, through a number of joint ventures, owns various stakes in four hydrocarbon-production projects in Kazakhstan. LukOil’s share in commercial hydrocarbon production as part …
Tight Oil Developments in Russia
James Henderson : The Oxford Institute for Energy Studies Part 1, click here to read part 2 Introduction Production of unconventional oil has transformed the US energy landscape, creating the potential for that country to reduce its reliance on oil imports and to contribute to the possibility of North America’s …