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2018-11-14 11:40:00

LUKOIL PRODUCTION 2.3 MBD

ДОБЫЧА ЛУКОЙЛА 2,3 МБД

LUKOIL - For the first nine months of 2018 LUKOIL Group's average hydrocarbon production excluding West Qurna-2 project was 2,301 thousand boe per day, which is 3.7% higher year-on-year. The increase was mainly driven by the development of gas projects in Uzbekistan.

In the third quarter of 2018 production increased by 1.7% quarter-on-quarter and averaged 2,327 thousand boe per day mainly driven by higher oil production in Russia.

 

Hydrocarbon production, thousand boe per day

3Q 20182Q 2018 9M 20189M 2017
2,3272,289Total (excluding West Qurna-2 project)2,3012,218

 

Oil production excluding West Qurna-2 project for the first nine months of 2018 was 63.8 million tonnes, including 21.7 million tonnes produced in the third quarter, which is 1.6% higher quarter-on-quarter in average daily terms. The Company has rapidly ramped up production in Russia since the change of external production limitations on July 1, 2018.

 

Oil production, thousand tonnes

3Q 2018 2Q 2018   9M 2018 9M 2017
21,717 21,135 Total (excluding West Qurna-2 project) 63,778 64,115
20,865 20,253 Russia 61,123 61,354
20,706 20,096 Subsidiaries 60,649 60,635
159 157 Share in affiliates 474 719
852 882 Outside of Russia 2,655 2,761
457 457 Subsidiaries 1,404 1,477
395 425 Share in affiliates 1,251 1,284
469 318 Compensation oil from West Qurna-2 project 1,238 1,426
22,186 21,453 Total 65,016 65,541

 

Active development of the priority projects continued. In the third quarter of 2018 the fourth well was launched at the second development stage of the V. Filanovsky field. In the first nine months of 2018 oil production at the field increased by 40% year-on-year, to 4.4 million tonnes.

In the third quarter of 2018 oil production at the Yu. Korchagin field increased by 6% quarter-on-quarter as a result of the first production well launch at the field's second development stage in July 2018. The additional drilling at the field's first development stage also supported the production growth.

Further development of the Yaregskoe field and Permian reservoir of the Usinskoe field, including the launch of new steam-generating capacities, allowed to increase high viscosity oil production for the first nine months of 2018 by 29% year-on-year, to 3.1 million tonnes.

Oil and gas condensate production at the Pyakyakhinskoe field in West Siberia increased by 5% year-on-year, to 1.2 million tonnes.

The share of the abovementioned five projects in the LUKOIL Group's oil production excluding West Qurna-2 project amounted to 15% for the first nine months of 2018, 3 percentage points up year-on-year.

 

Gas production, million cubic meters

3Q 2018 2Q 2018   9M 2018 9M 2017
8,512 8,127 Total 24,638 20,668
4,447 4,456 Russia 13,399 13,595
4,423 4,431 Subsidiaries 13,327 13,524
24 25 Share in affiliates 72 71
4,065 3,671 Outside of Russia 11,239 7,073
3,919 3,493 Subsidiaries 10,755 6,472
146 178 Share in affiliates 484 601

 

For the first nine months of 2018 LUKOIL Group's gas production was 24.6 billion cubic meters, which is 19.2% higher year-on-year. In the third quarter of 2018 gas production was 8.5 billion cubic meters, 3.6% up quarter-on-quarter in average daily terms.

The main driver of gas production growth was the successful development of projects in Uzbekistan. Due to the launch of new gas treatment facilities, the Group's share in production at Kandym and Gissar projects in the first nine months of 2018 increased to 9.6 billion cubic meters which is 84% higher year-on-year. Kandym gas processing complex has reached its design capacity of 8 billion cubic meters in September 2018.

 

Refinery throughput, thousand tonnes

3Q 2018 2Q 2018   9M 2018 9M 2017
17,467 16,734 Total for LUKOIL Group refineries 50,314 49,946
10,939 10,668 Russia 32,262 31,963
6,528 6,066 Outside of Russia 18,052 17,983
5,837 5,340 Oil processing 15,726 16,301
691 726 Refined products processing 2,326 1,682
1,622 1,631 Third party refineries abroad 4,913 4,744

 

For the first nine months of 2018 refinery throughput at LUKOIL Group's refineries increased by 0.7% year-on-year, to 50.3 million tonnes, mainly due to higher utilization rates at the refineries in Perm and Volgograd. Lower processing of oil and higher processing of refined products outside of Russia were mainly attributable to the feedstock optimization at the refineries in Italy and the Netherlands.

In the third quarter of 2018 the Group's refinery throughput was 17.5 million tonnes, 4.4% higher quarter-on-quarter, mainly due to the scheduled maintenance works at refineries in Nizhny Novgorod and Bulgaria in the second quarter of 2018.

 

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Earlier:

ЧИСТАЯ ПРИБЫЛЬ ЛУКОЙЛА ВЫШЕ НА 75%
2018, May, 30, 13:20:00

LUKOIL'S PROFIT UP 75%

LUKOIL - Profit attributable to PJSC "LUKOIL" shareholders was RUB 109.1 bln, up 75.0% year-on-year. Profit growth was mainly driven by significant negative non-cash foreign exchange effect in the first quarter of 2017. Excluding this factor, profit attributable to PJSC "LUKOIL" shareholders increased by 13.5%.

 
 ЛУКОЙЛ ДЛЯ ИРАКА: 800 ТБД
2018, May, 14, 10:50:00

LUKOIL FOR IRAQ: 800 TBD

LUKOIL - LUKOIL and the Basra Oil Company signed a Development Plan of West Qurna-2 field that provides for an oil production plateau of 800 thousand barrels per day. According to the Plan, the oil production of 480 thousand barrels per day will be reached in 2020 and 800 thousand barrels per day is expected in 2025.

 УЗБЕКСКИЙ ГАЗ ЛУКОЙЛА
2018, April, 20, 08:55:00

UZBEKISTAN - LUKOIL GAS

LUKOIL - LUKOIL has commissioned a Gas Processing Complex at the Kandym fields cluster in Uzbekistan. The official opening ceremony was attended by the President of the Republic of Uzbekistan Shavkat Mirziyoyev, Minister of Energy of the Russian Federation Aleksander Novak, Ambassador Extraordinary and Plenipotentiary of the Russian Federation to the Republic of Uzbekistan Vladimir Tyurdenyov, Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to the Republic of Uzbekistan Kwon Yong Woo and the President of PJSC "LUKOIL" Vagit Alekperov.

 ЧИСТАЯ ПРИБЫЛЬ ЛУКОЙЛА: +102,5%
2018, April, 2, 09:00:00

LUKOIL PROFIT: +102.5%

LUKOIL - For the full year 2017, profit attributable to our shareholders more than doubled year-on-year and amounted to RUB 418.8 bln. In the fourth quarter of 2017, profit was RUB 120.5 bln, which is 23.8% higher quarter-on-quarter.

 ПЛАН ЛУКОЙЛА: $50
2017, December, 15, 12:50:00

LUKOIL'S PLAN: $50

LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.

 ЛУКОЙЛ: ЧИСТАЯ ПРИБЫЛЬ 298,3 МЛРД. РУБ.
2017, December, 4, 22:35:00

LUKOIL PROFIT: RUB 298.3 BLN

LUKOIL - For the first nine months of 2017 profit attributable to PJSC LUKOIL shareholders was 298.3 bln RUB, up 86.2% year-on-year. In the third quarter of 2017 profit decreased by 29.8% quarter-on-quarter to 97.3 bln RUB.

 ЛУКОЙЛ: БОЛЬШЕ НА 91%
2017, August, 29, 18:00:00

LUKOIL UP 91%

For the first six months of 2017, profit attributable to PJSC LUKOIL shareholders was 201.0 bln RUB, up 90.7% year-on-year. In the second quarter of 2017 profit increased by 122.5% quarter-on-quarter to 138.7 bln RUB.

 

Tags: ЛУКОЙЛ, LUKOIL