LUKOIL is one of the largest oil & gas vertical integrated companies in the world accounting for over 2% of crude production and circa 1% of proved hydrocarbon reserves globally.
Today LUKOIL hosted an Investor Day in London with the participation of Vagit Alekperov, President of the Company and other senior management. At the event, the Company's 2017 results and long-term development strategy approved by the Board of Directors in December, 2017 were discussed. Strategy presentation and other materials are available on the Company's website.
PJSC LUKOIL today released its audited consolidated financial statements for the full year of 2017 prepared in accordance with the International Financial Reporting Standards (IFRS).
The Board of Directors of PJSC “LUKOIL” has approved today the lists of candidates for the election to the Board of Directors and the Audit Commission at the 2018 Annual General Shareholders Meeting.
Minister of Iraq Haider Al Abadi held a meeting with PJSC LUKOIL President
Vagit Alekperov in Baghdad. Parties discussed several issues related to LUKOIL projects
in the country.
LUKOIL announced today the results of the oil and gas reserves assessment and independent audit as of December 31, 2017. According to the SEC (U.S. Securities and Exchange Commission) standards, the Company's proved hydrocarbon reserves totaled 16.0 billion barrels of oil equivalent, 75% of which were oil reserves.
The LUKOIL Group's hydrocarbon production excluding West Qurna-2 project in the fourth quarter of 2017 increased by 2.9% quarter-on-quarter to 2,284 thousand boe per day. The increase was driven by the development of gas projects.
LUKOIL has completed the construction and commissioning of the first well at the Phase 2 of Vladimir Filanovsky field in the Caspian Sea. As a result, the daily oil production at the field increased to 16.8 thousand tonnes.
The LUKOIL Board of Directors held a meeting in Moscow today to summarize the Company's preliminary 2017 results and set priorities for 2018 under the new Strategic development program for 2018-2027.
The Board of Directors at the today's meeting approved the mid-term development plan ('Key budget indicators of the LUKOIL Group for 2018-2020').
LUKOIL finished most of the construction works at Vladimir Filanovsky field's Phase 2 development facilities and started drilling of the first production well. The Phase 2 facilities will allow to reach the stable designed production plateau of 6 million tonne