Multi Zone Hydro Fracturing at Lukoil
Between 2013-2015, LUKOIL plans to drill 449 horizontal wells using multi-zone hydrofracturing (HW with MZHF). During 2011, 96 of these wells were drilled and by the end of 2012, LUKOIL will have drilled a further 108. Using this technology has proved highly effective on the difficult reserves of Western Siberia. …
LUKOIL net income reached $8.3 billion in nine months of 2012, free cash flow amounted to $4.8 billion
LUKOIL has published consolidated US GAAP financial statements for the third quarter and nine months of 2012. The Company’s net income was $8,316 million in nine months of 2012, which is a 7.7% decrease y-o-y. In the third quarter of 2012 net income was $3,509 million, which is a 245% …
Lukoil joins upstream project off Sierra Leone Shore in the Gulf of Guinea
LUKOIL has acquired a 25% stake in the geological exploration, development and production project at the SL-4B-10 offshore block in the waters of the Republic of Sierra Leone in the Gulf of Guinea. LUKOIL acquired this stake from Canada’s Talisman Energy, the project operator. The other project parties are Malaysia’s Petronas (25%) and Britain’s Prontinal Ltd (20%). The block, with …
Lukoil Looking to Turn into an International Energy Company
Russia’s oil giant Lukoil has great plans for the future, as it plans to change its status, turning from a West Siberia-focused oil producer into an international energy company with asset bases from South America to the Middle East to Southeast Asia. The move is followed by the recent declaration …
Lukoil 1h 2012 Net Income Reached $4.8 Billion, EBITDA Amounted to $8.8 Billion
LUKOIL has published consolidated US GAAP financial statements for the first half of 2012. The Company’s net income was $4,807 million in the first half of 2012, which is a 29.0% decrease y-o-y. EBITDA was $8,808 million, which is a 17.6% decrease y-o-y. Negative effect of foreign exchange differences had …
Lukoil Board of Directors Sumarizes Company’s Performance in the First Half of 2012
The OAO LUKOIL Board of Directors has reviewed Group’s preliminary results for the first half of 2012 and investment program realization progress in 2012 in Moscow today. The geological exploration completed within the reporting period gave LUKOIL an increase in the reserves of oil in the amount of 11.6 million tons, of gas …
ConocoPhillips Sells Interest in Russian Joint Venture NaryanMarNefteGaz
ConocoPhillips announced today that, as part of its ongoing strategy to reposition its asset base, it has closed a transaction with LUKOIL for the sale of ConocoPhillips’ indirect 30 percent interest in NaryanMarNefteGaz (NMNG) and certain related assets. Financial terms of the transaction were not disclosed. ConocoPhillips said it expects …
Lukoil Consolidates Assets in Timan Pechora
LUKOIL announced today that it has acquired ConocoPhillips’ indirect 30 percent interest in Naryanmarneftegaz (NMNG) and certain related assets. ConocoPhillips indirectly owned 30% in NMNG. The acquisition brings LUKOIL’s total ownership interest in NMNG to 100%. Financial terms of the transaction were not disclosed. In view of the sale of …
Lukoil Makes One-Time Dividend Payment of More Than Rub 60 Billion
The OAO LUKOIL Press Service announces that today, pursuant to Federal Law No. 409-FZ of December 28, 2010, “On the Amendment of Individual Legislative Acts of the Russian Federation with Regard to the Regulation of Dividend Payment (Profit Distribution)” and the resolution of the Annual General Meeting of Shareholders of …
Board of Directors of Lukoil Approves the Company’s Management Committee Members
The Board of Directors of OAO LUKOIL held a meeting today in Moscow to resolve a number of issues related to corporate governance. Among other things, the following members of the Management Committee were approved: Name Position 1. Vagit Alekperov President 2. Anatoly Barkov Vice-President, General Affairs, Corporate Security and …