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Press Release

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 20163Q 2016 9M 20159M 2016
22,27922,527Total75,27569,301
21,37021,560Total excluding West Qurna-2 project67,71764,824
20,49520,660Russia64,31062,031
20,25320,414Subsidiaries63,77461,317
242246Share in affiliates536714
875900Outside of Russia3,4072,793
439533Subsidiaries1,3841,533
436367Share in affiliates2,0231,260
909967Compensation 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 20163Q 2016 9M 20159M 2016
5,0734,737Total14,88315,184
3,2412,985Russia9,8869,595
3,2202,969Subsidiaries9,8519,551
2116Share in affiliates3544
1,8321,752Outside of Russia4,9975,589
1,6971,637Subsidiaries4,5545,209
135115Share in affiliates443380

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 20163Q 2016 9M 20159M 2016
16,408 17,119Total of LUKOIL Group refineries47,896 49,339
9,889 11,092 Russia31,379 31,029
6,519 6,027 Outside of Russia16,517 18,310
5,116 5,362 Oil refining13,742 14,916
1,403 665 Refined products           refining2,775 3,394
73 80 Third party refineries abroad715 245

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  • Press release in PDF

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