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LUKOIL production in H1 2013 5.4% higher

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Staff writer ▼ | September 3, 2013
LUKOILOAO LUKOIL reported the preliminary operational results for the first half of 2013. The company saw a boost in oil reserves of 6 million tons of reference fuel, reaching its planned targets.

Over the reporting period, four oil fields have been discovered: Severo-Vatjeganskoye, Vostochno-Kayumovskoye in Western Siberia, Michaelskoye in Komi Republic and Omarskoye in the Republic of Tatarstan.

The recoverable reserves increment, as a result of asset acquisitions in Russia, came to 89 million tons of reference fuel.

Hydrocarbon production by LUKOIL Group over the first six months of 2013 totaled 57.6 million tons of reference fuel, which exceeded last year's result for the same period by 1.2%. Its oil output in the Russian Federation totaled 42 million tons, while abroad the figure came to 2.7 million tons.

The gas output (both natural and associated petroleum gas) for the reporting period reached 12.9 billion cubic meters, which is 5.3% higher than last year's total. In Russia, the company experienced an 8.5% growth in gas production. The associated gas utilization rate at the company's enterprises in Russia came to 87.7%.

LUKOIL became the first company in the world to implement the Steam-Assisted Gravity Drainage (SAGD) projects for the system of horizontal wells located in Lyaelskaya area of Yaregskoye high-viscosity oilfield.

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