LUKOIL: Completes Reserves Estimate as of the End of 2021
PJSC “LUKOIL” announced today the results of the reserves assessment and independent audit as of December 31, 2021. According to the SEC classification, the Company’s proved hydrocarbon reserves totaled 15.3 billion barrels of oil equivalent. The Company’s proved hydrocarbon reserve life is 19 years. The share of liquids in proved …
LUKOIL: Reports Preliminary Operating Data for the Fourth Quarter and Twelve Months of 2021
In 2021 LUKOIL Group’s hydrocarbon production excluding the West Qurna-2 project was 2,161 thousand boe per day, which is 4.7% higher year-on-year, while in the fourth quarter of 2021 hydrocarbon production increased by 7.6% quarter-on-quarter. The production growth was attributable to the dynamics of the external limitations on oil production …
President of Kazakhstan Receives Head of LUKOIL
Kassym-Jomart Tokayev, President of the Republic of Kazakhstan, received Vagit Alekperov, head of LUKOIL Company, today in the city of Nur-Sultan. The parties discussed ongoing projects in Kazakhstan involving LUKOIL, as well as a number of promising projects that could boost cooperation between Russia and Kazakhstan in fuel and energy …
President of LUKOIL Meets with Head of Kazmunaygas
Vagit Alekperov, President of PJSC LUKOIL, had a meeting today with Alik Aidarbayev, Chairman of the Management Board of JSC NC KazMunayGas, in Nur-Sultan. The meeting took place during Vagit Alekperov’s working visit to the Republic of Kazakhstan. The parties discussed current cooperation issues and business opportunities. Among other things, …
LUKOIL and Gazprom Neft Sign Binding Agreement as Part of Joint Venture Creation
PJSC LUKOIL and PJSC Gazprom Neft concluded sale and purchase agreement for 50% equity share of Meretoyakhaneftegaz LLC, a Gazprom Neft wholly owned subsidiary. The contract was signed as part of creating a joint venture to develop a large oil and gas cluster in the Nadym-Pur-Tazovsky area of the Yamal-Nenets Autonomous …
30 Million Tonnes of Oil Produced at LUKOIL’s Vladimir Filanovsky Field in the Caspian Sea
LUKOIL’s oil production at its Caspian Vladimir Filanovsky field exceeded 30 million tonnes. In 2021, the field saw 5 development wells built (including 4 production wells and 1 injection well) to maintain the plateau level of 6 million tonnes of oil per year. The Company also completed the second stage …
LUKOIL: Presents Global Energy Outlook 2050
Leonid Fedun, Vice President for Strategic Development of PJSC LUKOIL, presented the outlook for the development of global energy to 2050 today in Moscow. The report analyses possible greenhouse gas emission tracks in three scenarios of various approaches to climate regulations. It evaluates attainability of the goals to keep global …
The Board of Directors Approves Updated Strategy of LUKOIL Group
The Board of Directors of PJSC LUKOIL held a meeting today to approve the Company’s Strategic Development Programme for 2022-2031 (hereinafter, the Programme). The Programme stipulates balanced sustainable development of the Company with a focus on its hydrocarbon business. The following strategic priorities have been determined: focus on investments into …
LUKOIL: Reports on Amended Terms of Share Acquisition in Shah Deniz Project
PJSC “LUKOIL” announces the signing of amendments to the agreement concluded in October 2021 on the acquisition of a share in the Shah Deniz project from PETRONAS. In accordance with the new arrangements, the share acquired by LUKOIL is reduced from 15.5% to 9.99% with proportional decrease in the transaction …
LUKOIL: Oil Workers in Western Siberia are Awarded with State Awards
By the decree of the President of the Russian Federation, oil workers of OOO LUKOIL-Western Siberia (a 100% subsidiary of PAO LUKOIL) were awarded high state awards for their great contribution to the development of the country’s fuel and energy complex and many years of conscientious work. Vladislav Zubarev, General …