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Oil Company "LUKOIL"

November 18, 2016

LUKOIL reports preliminary operating data for the third quarter and first nine months of 2016

The LUKOIL Group oil production for the third quarter and first nine months of 2016 was 22.5 and 69.3 million tons, respectively.

Oil production dynamics in Russia was positively influenced by start of pilot production on offshore V. Filanovsky and onshore Pyakyakhinskoe fields during the third quarter of 2016, increased production drilling in West Siberia, as well as ramp up of oil production in Timan-Pechora and Urals regions.

Oil production dynamics outside of Russia was influenced by divestment of our share in Caspian Investment Resources Ltd. in Kazakhstan in 2015, as well as a decrease in compensation crude oil volume from West Qurna-2 project in Iraq due to the reimbursement of a larger amount of historical costs in 2015.

Oil production, thousand tons

2Q 2016

3Q 2016

 

9M 2015

9M 2016

22,279

22,527

Total

75,275

69,301

21,370

21,560

Total excluding West Qurna-2 project

67,717

64,824

20,495

20,660

Russia

64,310

62,031

20,253

20,414

Subsidiaries

63,774

61,317

242

246

Share in affiliates

536

714

875

900

Outside of Russia

3,407

2,793

439

533

Subsidiaries

1,384

1,533

436

367

Share in affiliates

2,023

1,260

909

967

Compensation oil from West Qurna-2 project

7,558

4,477

The LUKOIL Group marketable gas production for the third quarter and first nine months of 2016 was 4.7 and 15.2 billion cubic meters, respectively. Production dynamics was positively influenced by development of projects in Kazakhstan, Azerbaijan and Uzbekistan.

 

Marketable gas production, million cubic meters

2Q 2016

3Q 2016

 

9M 2015

9M 2016

5,073

4,737

Total

14,883

15,184

3,241

2,985

Russia

9,886

9,595

3,220

2,969

Subsidiaries

9,851

9,551

21

16

Share in affiliates

35

44

1,832

1,752

Outside of Russia

4,997

5,589

1,697

1,637

Subsidiaries

4,554

5,209

135

115

Share in affiliates

443

380

Feedstock processing at the LUKOIL Group refineries for the third quarter and first nine months of 2016 was 17.1 and 49.3 million tons, respectively.

Feedstock processing at refineries, thousand tons

2Q 2016

3Q 2016

 

9M 2015

9M 2016

16,408

17,119

Total of LUKOIL Group refineries

47,896

49,339

9,889

11,092

Russia

31,379

31,029

6,519

6,027

Outside of Russia

16,517

18,310

5,116

5,362

Oil refining

13,742

14,916

1,403

665

Refined products refining

2,775

3,394

73

80

Third party refineries abroad

715

245

 

The information in this press release is an estimate of the LUKOIL Group’s results in the third quarter and first nine months of 2016 and therefore constitutes forward-looking statements. This information is preliminary and based on information available at the date of this document, and may be revised after statistical, financial, tax and accounting statements become available. The information on the LUKOIL Group’s operational results in this press release are subject to many external factors which may cause the actual results to differ materially from those expressed or forecasted in this press release for the third quarter and first nine months of 2016. The LUKOIL Group assumes no obligation to update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise, except to the extent required by applicable law.

This document does not constitute or form part of an invitation or inducement to engage in investment activity with, or any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of, the LUKOIL Group, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of, or any investment in, the LUKOIL Group.


Press Centre  PJSC "LUKOIL"
Phone.:+7 (495) 627-16-77 
E-mail: media@lukoil.com

https://www.lukoil.com
https://www.facebook.com/Lukoil.en
https://twitter.com/lukoilengl

 

 

 

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