2020-02-05 10:15:00
LUKOIL PRODUCTION 2.4 MBD
LUKOIL - February 3, 2020 - In the fourth quarter of 2019 LUKOIL Group's average hydrocarbon production excluding the West Qurna-2 project was 2,388 thousand boe per day, which is 3.4% higher quarter-on-quarter. As a result, in 2019 production was 2,350 thousand boe per day which is 1.4% higher year-on-year. The increase was mainly driven by the development of gas projects in Uzbekistan.
Hydrocarbon production, thousand boe per day
| 4Q 2019 | 3Q 2019 | 12M 2019 | 12M 2018 | |
|---|---|---|---|---|
| 2,388 | 2,308 | Total (excluding the West Qurna-2 project) | 2,350 | 2,319 |
Oil production excluding the West Qurna-2 project in 2019 totaled 85.9 million tonnes, which is 0.3% higher year-on-year. Oil production growth was mainly driven by the launch of the second phase of Shakh Deniz project in Azerbaijan in 2018, as well as by acquisition of a share in the Marine XII project in the Republic of Congo in September 2019. In the fourth quarter of 2019 oil production was practically unchanged quarter-on-quarter.
Oil production, thousand tonnes
| 4Q 2019 | 3Q 2019 | 12M 2019 | 12M 2018 | |
|---|---|---|---|---|
| 21,638 | 21,640 | Total (excluding the West Qurna-2 project) | 85,876 | 85,610 |
| 20,577 | 20,704 | Russia | 82,068 | 82,045 |
| 20,425 | 20,552 | Subsidiaries | 81,458 | 81,412 |
| 152 | 152 | Share in affiliates | 610 | 633 |
| 1,061 | 936 | Outside of Russia | 3,808 | 3,565 |
| 620 | 534 | Subsidiaries | 2,114 | 1,901 |
| 441 | 402 | Share in affiliates | 1,694 | 1,664 |
| 424 | 417 | Compensation oil from the West Qurna-2 project | 1,616 | 1,514 |
| 22,062 | 22,057 | Total | 87,492 | 87,124 |
Active development of the priority projects was on track. In 2019 oil production at the V. Filanovsky field increased by 5% year-on-year. In November 2019, the third stage of the field was launched.
In 2019 oil production at the Yu. Korchagin field ramped up by 21% year-on-year owing to drilling program within the field's second development stage.
The development of the Yaregskoye field and Permian reservoir of the Usinskoye field, including the launch of new steam-generating facilities, led to increase of high viscosity oil production in 2019 by 15% year-on-year, to 4.9 million tonnes.
The development of growth projects in West Siberia also continued. The aggregate oil and gas condensate production at the V. Vinogradov, Imilorskoye and Pyakyakhinskoye fields in 2019 increased by 17% year-on-year.
The share of the abovementioned projects in the LUKOIL Group's oil production excluding the West Qurna-2 project amounted to 18% in 2019 compared to the 16% in 2018.
Gas production, million cubic meters
| 4Q 2019 | 3Q 2019 | 12M 2019 | 12M 2018 | |
|---|---|---|---|---|
| 9,432 | 8,262 | Total | 35,046 | 33,543 |
| 4,615 | 4,326 | Russia | 17,797 | 17,804 |
| 4,593 | 4,304 | Subsidiaries | 17,709 | 17,712 |
| 22 | 22 | Share in affiliates | 88 | 92 |
| 4,817 | 3,936 | Outside of Russia | 17,249 | 15,739 |
| 4,649 | 3,787 | Subsidiaries | 16,608 | 15,096 |
| 168 | 149 | Share in affiliates | 641 | 643 |
In 2019, LUKOIL Group's gas production was 35.0 billion cubic meters, which is 4.5% higher year-on-year. The main driver of gas production growth was the development of projects in Uzbekistan.
As a result of the launch of the second stage of the Kandym gas processing plant in 2018, production in Uzbekistan in 2019 increased by 7% year-on-year, to 14.1 billion cubic meters (LUKOIL's share).
Refinery throughput, thousand tonnes
| 4Q 2019 | 3Q 2019 | 12M 2019 | 12M 2018 | |
|---|---|---|---|---|
| 17,009 | 18,246 | Total for LUKOIL Group refineries | 68,746 | 67,316 |
| 10,828 | 11,610 | Russia | 44,154 | 43,189 |
| 6,181 | 6,636 | Outside of Russia | 24,592 | 24,127 |
| 5,687 | 6,208 | Oil processing | 22,673 | 21,270 |
| 494 | 428 | Refined products processing | 1,919 | 2,857 |
| 1,763 | 1,742 | Third party refineries abroad | 6,736 | 6,547 |
In 2019, refinery throughput at LUKOIL Group's refineries was 68.7 million tonnes, which is 2.1% higher year-on-year. In the fourth quarter of 2019 refinery throughput was 6.8% lower quarter-on-quarter.
Refinery throughput in Russia increased by 2.2% year-on-year, to 44.2 million tonnes. The increase was mainly due to higher utilization rate of the Nizhny Novgorod refinery. A 6.7% quarter-on-quarter decrease in refinery throughput in the fourth quarter of 2019 was due to scheduled maintenance works at the Volgograd and Nizhny Novgorod refineries.
Refinery throughput in Europe increased by 1.9% year-on-year, to 24.6 million tonnes. The growth was driven by the maintenance works at the refinery in Bulgaria in the first quarter of 2018. A 6.9% quarter-on-quarter decrease in refinery throughput in the fourth quarter of 2019 was driven by scheduled maintenance works at the refinery in Italy.
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Earlier:
2019, November, 13, 12:20:00
LUKOIL PRODUCTION +1.6%
For the nine months of 2019 LUKOIL Group's average hydrocarbon production excluding the West Qurna-2 project amounted to 2,337 thousand boe per day, which is 1.6% higher year-on-year.
|
2019, October, 25, 09:10:00
LUKOIL, ARAMCO DEVELOPMENT
Russian crude producer Lukoil is in talks with Saudi Aramco on potential joint projects outside Russia and Saudi Arabia, including some in Africa, CEO Vagit Alekperov said Wednesday on the sidelines of the Russia-Africa Summit in Sochi.
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2019, October, 25, 09:05:00
LUKOIL, NNPC COOPERATION
President of PJSC LUKOIL Vagit Alekperov and Nigerian National Petroleum Corporation (NNPC) Group Managing Director Mele K Kyari signed a Memorandum of Understanding between the companies. Memorandum was signed today at the Russia-Africa economic forum in Sochi.
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