LUKOIL: Operating Results 1H 2019 – Production Up 2.8%
For the six months of 2019 LUKOIL Group’s average hydrocarbon production excluding the West Qurna-2 project was 2,352 thousand boe per day, which is 2.8% higher year-on-year. The increase was mainly driven by the development of gas projects in Uzbekistan, as well as oil production growth in Russia due to …
LUKOIL Reports Preliminary Operating Data for the First Quarter of 2019
In the first quarter of 2019 LUKOIL Group’s average hydrocarbon production excluding the West Qurna-2 project was 2,379 thousand boe per day, which is 4.1% higher year-on-year and 0.3% higher quarter-on-quarter. The increase was mainly driven by the development of gas projects in Uzbekistan. Hydrocarbon production, thousand boe per day …
LUKOIL Produced 100 Million Tons of Oil at the West Qurna-2 Field
Cumulative production at the West Qurna-2 field has reached 100 million tons of oil as part of successful implementation of Phase 1 of the project. With 184 wells drilled at the field, the average daily production rate is 400,000 barrels. To manage the field’s production, LUKOIL uses the intelligent field …
LUKOIL Begins Drilling New Production Wells at West Qurna-2
LUKOIL commenced drilling of new production wells at West Qurna-2 field as part of the second development phase. The company has so far concluded contracts to drill 57 production wells, including 54 wells at Mishrif formation and 3 wells at Yamama formation. The drilling campaign will ramp up production at …
LUKOIL Commissions New Well Pad at West Qurna-2 Field
PJSC “LUKOIL” commissioned a new well pad M11/1A at the West Qurna-2 oil field in Iraq. The production reached 4.7-4.8 kbpd from the first two wells of the new pad, which is fully in line with the preliminary forecasts. The wells are 2.7-2.9 thousand meters deep. By the end of …
LUKOIL: Board of Directors Summarises Company 2015 Preliminary Performance and Sets Priorities for 2015
The LUKOIL Board of Directors held a meeting in Moscow today to summarize the preliminary results of the company performance in 2014 and set priorities for 2015 and the near term. In 2014, as a result of prospecting, 14 fields were discovered, while 38 oil deposits were identified in the …
Lukoil – May Cut 2015 CAPEX Due to Political Volatility
Lukoil, Russia’s second-largest oil producer, plans to cut its capital spending because of economic and political volatility, Vice President Leonid Fedun said on Friday. Lukoil has not been directly affected by Western sanctions against Russia over its stance towards Ukraine but is suffering from a spike in international borrowing rates …
Lukoil: 1H Results – 5 New Fields Discovered, APG Up to 89.2%
The OAO LUKOIL BoD has reviewed the preliminary results for the first half of 2014, and budget and investment program realization progress in 2014 in Moscow today. As a result of geological exploration carried out by the Company 5 oil fields were discovered in the first half of 2014, namely Svetloozerskoye, Razdolnoye, Kulikovskoye …
Lukoil: Q2 Figures Boosted by West Qurna-2
LUKOIL has published consolidated US GAAP financial statements for the second quarter of 2014. The Company’s net income in the second quarter of 2014 amounted to $2,389 million, which is a 13.5% y-o-y increase. EBITDA (earnings before interest, taxation, depreciation and amortization) in the second quarter of 2014 increased by …
Lukoil Ships First Batch of Compensation Oil as Part of West Qurna-2 Project in Iraq
Sea Triumph, a tanker chartered by LITASCO (an international marketing subsidiary of OAO LUKOIL), left the port of Basra in southern Iraq with a load of crude. This is the first batch of oil in reimbursement of the costs incurred by LUKOIL as part of the West Qurna-2 project. The …