LUKOIL Group's average hydrocarbon production rose by 2.5%, Y-o-Y
For the nine months of 2021 LUKOIL Group's average hydrocarbon production excluding the West Qurna-2 project was 2,116 thousand boe per day, which is 2.5% higher year-on-year.
The production growth was attributable to the dynamics of the external limitations on oil production due to the OPEC+ agreement, as well as higher gas production volumes.
For the nine months of 2021 oil production excluding the West Qurna-2 project remained unchanged year-on-year in average daily terms and amounted to 58.3 million tonnes.
Implementation of drilling programs at the V. Filanovsky and Yu. Korchagin fields in the Caspian Sea allowed to increase total oil and gas condensate production for the nine months of 2021 by 0.6% year-on-year, to 5.6 million tonnes.
The V. Grayfer field development continues: cable lines construction is complete, subsea pipelines are being laid, shipyards are finishing construction of topsides of the platforms.
For the nine months of 2021, gas production increased in average daily terms by 13.6% year-on-year, to 23.5 billion cubic meters.
For the nine months of 2021 refinery throughput at LUKOIL Group's refineries was 47.5 million tonnes, which is 4.4% higher year-on-year.
PJSC “LUKOIL” is one of the largest publicly traded, vertically integrated oil and gas companies in the world in terms of proved hydrocarbon reserves and production; and the second largest producer of crude oil in Russia. Established in 1991, the Company currently operates in more than 30 countries with core upstream assets located in Russia. The full production cycle includes oil and gas exploration, production and refining; production of petrochemicals and lubricants; power generation; marketing and distribution. The Company’s shares are listed in Russia on Moscow Exchange under the ticker “LKOH” and depositary receipts are listed on the London Stock Exchange under the ticker “LKOD”.
