2019-02-06 10:40:00
LUKOIL'S PRODUCTION 2.3 MBD
LUKOIL - In 2018 LUKOIL Group's average hydrocarbon production excluding West Qurna-2 project was 2,319 thousand boe per day, which is 3.8% higher year-on-year. In the fourth quarter of 2018 production increased by 1.9% quarter-on-quarter and averaged 2,371 thousand boe per day. The increase was mainly driven by the development of gas projects in Uzbekistan.
Hydrocarbon production, thousand boe per day
| 4Q 2018 | 3Q 2018 | 12M 2018 | 12M 2017 | |
|---|---|---|---|---|
| 2,371 | 2,327 | Total (excluding West Qurna-2 project) | 2,319 | 2,235 |
Oil production excluding West Qurna-2 project in 2018 remained unchanged year-on-year and amounted to 85.6 million tonnes. In the fourth quarter of 2018 production was 21.8 million tonnes, which is 0.5% higher quarter-on-quarter.
Oil production, thousand tonnes
| 4Q 2018 | 3Q 2018 | 12M 2018 | 12M 2017 | |
|---|---|---|---|---|
| 21,832 | 21,717 | Total (excluding West Qurna-2 project) | 85,610 | 85,592 |
| 20,922 | 20,865 | Russia | 82,045 | 81,879 |
| 20,763 | 20,706 | Subsidiaries | 81,412 | 80,995 |
| 159 | 159 | Share in affiliates | 633 | 884 |
| 910 | 852 | Outside of Russia | 3,565 | 3,713 |
| 497 | 457 | Subsidiaries | 1,901 | 2,003 |
| 413 | 395 | Share in affiliates | 1,664 | 1,710 |
| 276 | 469 | Compensation oil from West Qurna-2 project | 1,514 | 1,822 |
| 22,108 | 22,186 | Total | 87,124 | 87,414 |
Active development of the priority projects continued. In the fourth quarter of 2018 the fifth well was launched at the second development stage of the V. Filanovsky field. In 2018 oil production at the field increased by 32% year-on-year, to 6.1 million tonnes.
In the fourth quarter of 2018 oil production at the Yu. Korchagin field increased by 15% quarter-on-quarter as a result of the second production well launch at the field's second development stage.
The 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 in 2018 by 25% year-on-year, to 4.3 million tonnes.
Oil and gas condensate production at the Pyakyakhinskoe field in West Siberia increased in 2018 by 4% year-on-year, to 1.6 million tonnes.
The share of the abovementioned five projects in the LUKOIL Group's oil production excluding West Qurna-2 project amounted to 15% in 2018, 3 percentage points up year-on-year.
Gas production, million cubic meters
| 4Q 2018 | 3Q 2018 | 12M 2018 | 12M 2017 | |
|---|---|---|---|---|
| 8,905 | 8,512 | Total | 33,543 | 28,861 |
| 4,405 | 4,447 | Russia | 17,804 | 18,176 |
| 4,385 | 4,423 | Subsidiaries | 17,712 | 18,080 |
| 20 | 24 | Share in affiliates | 92 | 96 |
| 4,500 | 4,065 | Outside of Russia | 15,739 | 10,685 |
| 4,341 | 3,919 | Subsidiaries | 15,096 | 9,885 |
| 159 | 146 | Share in affiliates | 643 | 800 |
In 2018 LUKOIL Group's gas production was 33.5 billion cubic meters, which is 16% higher year-on-year. In the fourth quarter of 2018 gas production was 8.9 billion cubic meters, 5% up quarter-on-quarter.
The main driver of gas production growth was the development of projects in Uzbekistan. As a result of the launch of new gas treatment facilities, the Group's share in production at Kandym and Gissar projects in 2018 increased to 13.4 billion cubic meters (LUKOIL's share) which is 67% higher year-on-year.
Refinery throughput, thousand tonnes
| 4Q 2018 | 3Q 2018 | 12M 2018 | 12M 2017 | |
|---|---|---|---|---|
| 17,002 | 17,467 | Total for LUKOIL Group refineries | 67,316 | 67,240 |
| 10,927 | 10,939 | Russia | 43,189 | 43,107 |
| 6,075 | 6,528 | Outside of Russia | 24,127 | 24,133 |
| 5,544 | 5,837 | Oil processing | 21,270 | 21,970 |
| 531 | 691 | Refined products processing | 2,857 | 2,163 |
| 1,634 | 1,622 | Third party refineries abroad | 6,547 | 6,547 |
In 2018 refinery throughput at LUKOIL Group's refineries was 67.3 million tonnes, which is almost flat year-on-year.
In the fourth quarter of 2018 the Group's refinery throughput was 17.0 million tonnes, 2.7% lower quarter-on-quarter, mainly due to the maintenance works at ISAB refinery in Italy in the fourth quarter of 2018.
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Earlier:
2018, December, 7, 07:30:00
LUKOIL, KAZMUNAYGAS CONSORTIUMLUKOIL - President of PJSC LUKOIL Vagit Alekperov and Chairman of the Management Board of JSC NC KazMunayGas Alik Aidarbayev signed agreements on joint cooperation and financing of the Zhenis project in the Kazakhstan's sector of the Caspian Sea. The documents set the terms of the block's development. |
2018, November, 30, 11:00:00
LUKOIL'S PROFIT UP BY 54%LUKOIL - For the first nine months of 2018 profit attributable to PJSC LUKOIL shareholders was RUB 460.1 billion, up 54.3% year-on-year. In the third quarter of 2018 profit increased by 9.8% quarter-on-quarter to RUB 183.8 billion. The growth was constrained by higher DD&A due to the launch of new production facilities. |
2018, November, 14, 11:40:00
LUKOIL PRODUCTION 2.3 MBDLUKOIL - 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. |
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%. |
2018, May, 14, 10:50:00
LUKOIL FOR IRAQ: 800 TBDLUKOIL - 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. |
2018, April, 20, 08:55:00
UZBEKISTAN - LUKOIL GASLUKOIL - 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. |
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. |
