Lukoil

OOO LUKOIL-West Siberia has won the bidding for the use of a subsoil site of federal importance, including the Imilorskoye+West Imilorskoye and Istochnoye fields located in Khanty-Mansi Autonomous District -Yugra. The Company offered a one-time payment for the subsoil use in the amount of RUR 50.8 billion, which amounts to …

Ravil Maganov, LUKOIL First Executive Vice President, and Aleksandr Dzhaparidze, CEO of EURASIA DRILLING COMPANY Ltd. (EDC), signed a Memorandum of Understanding between the companies. As part of the document, EDC will provide LUKOIL with the drilling capacities that are required for the project aimed at additional exploration and development …

The Board of Directors of LLC Bashneft-Polyus, a joint venture of JSOC Bashneft and OJSC Lukoil which develops the R. Trebs and A. Titov oilfields in the Nenets Autonomous District, approved Vladimir Nesterenko as the company’s new General Director. The former General Director of LLC Bashneft-Polyus Vitaly Litvinenko decided to continue his career outside Bashneft. Vladimir Mikhailovich Nesterenko was born in 1972. In 1998 …

Moscow oil and gas conferences (NEFTEGAZSNAB, NEFTEGAZSTROY, NEFTEGAZOPERERABOTKA, NEFTEGAZSERVICE, NEFTEGAZSHELF) aim at widening cooperation of oilmen and gas workers with their contractors and suppliers.  Representatives of great many companies will be moderating the conferences as speakers and experts, the ones from Gazprom, Transneft, LUKOIL, ТNК-BP, Rosneft, Surgutneftegas, RussNeft, Slavneft, Tatneft, …

Anatoly Moskalenko, OAO LUKOIL Vice President for Human Resources Management and Corporate Structure Development, and Guy Ryder, General Director of the International Labor Office, signed a Cooperation Agreement between the Company and the International Labor Organization (ILO), in Moscow today. The agreement focuses on cooperation in the areas of youth …

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 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 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 …

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 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 …