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2020-02-05 10:15:00

LUKOIL PRODUCTION 2.4 MBD

ДОБЫЧА ЛУКОЙЛА 2.4 МБД

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    20193Q    2019 12M    201912M    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    20193Q    2019 12M    201912M    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    20193Q    2019 12M    201912M    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    20193Q    2019 12M    201912M    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.

----- 

Earlier: 

LUKOIL PRODUCTION +1.6%
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.
 
 LUKOIL, ARAMCO DEVELOPMENT
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.
 
 LUKOIL, NNPC COOPERATION
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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