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LUKOIL oil company LUKOIL - ALWAYS MOVING FORWARD
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I. Graifer, Chairman of the Board of directors of LUKOILV. I. Graifer, Chairman of the Board of directors of LUKOILV. Alekperov, President of OAO LUKOIL V. Alekperov, President of OAO LUKOIL Oilmen of LUKOILOilmen of LUKOILProduction facilities of the Caspian Yuri Karchagin fieldProduction facilities of the Caspian Yuri Karchagin fieldOffshore platforme D6 in the Baltic Sea. Kratsovskoe fieldOffshore platforme D6 in the Baltic Sea. Kratsovskoe field Permnefteorgsintez Refinery Permnefteorgsintez RefineryVolgograd RefineryVolgograd Refinery Uhtaneftepererabotka Refinery Uhtaneftepererabotka Refinery Nijnegorodnefteorgsintez Refinery Nijnegorodnefteorgsintez RefineryMini refineries in KogalymMini refineries in KogalymPetrotel-LUKOIL (Romania)Petrotel-LUKOIL (Romania)LUKOIL Neftokhim Burgas (Bulgaria)LUKOIL Neftokhim Burgas (Bulgaria)Filling station commissioning in New-YorkFilling station commissioning in New-YorkChange of brand of a filling station in the USAChange of brand of a filling station in the USAOfficial ceremony to mark the commencement of production at West Qurna-2 oilfield in Iraq. 29.03.2014Official ceremony to mark the commencement of production at West Qurna-2 oilfield in Iraq. 29.03.2014Dmitry Medvedev, Prime Minister of the Russian Federation, visited the ice-rsistant platform at the Y.Korchagin field in the Caspian Sea. October 02, 2013Dmitry Medvedev, Prime Minister of the Russian Federation, visited the ice-rsistant platform at the Y.Korchagin field in the Caspian Sea. October 02, 2013President of Russia Dmitry Medvedev visited Krasnodarskaya Combined Heat and Power Plant (CHPP) of OOO LUKOIL-Kubanenergo and participated in the launch of a new 410 MW combined-cycle gas turbine (CCGT-410). October 8, 2011President of Russia Dmitry Medvedev visited Krasnodarskaya Combined Heat and Power Plant (CHPP) of OOO LUKOIL-Kubanenergo and participated in the launch of a new 410 MW combined-cycle gas turbine (CCGT-410). October 8, 2011The first large-tonnage oil shipment through the FOIROT (Varandey Oil Export Terminal). June 9, 2008The first large-tonnage oil shipment through the FOIROT (Varandey Oil Export Terminal). June 9, 2008Mounting of mooring cargo handling system on the FOIROT (Varandey Oil Export Terminal)Mounting of mooring cargo handling system on the FOIROT (Varandey Oil Export Terminal)Loading of FOIROT onto sea-going barges (Varandey Oil Export Terminal)Loading of FOIROT onto sea-going barges (Varandey Oil Export Terminal)Construction of Varandey TerminalConstruction of Varandey TerminalCommissioning of a catalytic reforming installation at the Volgograd RefineryCommissioning of a catalytic reforming installation at the Volgograd RefineryNakhodkinskoye gaz field commissioningNakhodkinskoye gaz field commissioningOil Spill Response Exercise in the Caspian SeaOil Spill Response Exercise in the Caspian SeaInternational training exercises at Varandey oil export terminalInternational training exercises at Varandey oil export terminalAnti-terrorism exercises at Vysotsk oil terminalAnti-terrorism exercises at Vysotsk oil terminalInternational anti-terrorism exercises at Volgograd RefineryInternational anti-terrorism exercises at Volgograd RefineryInternational exercise at RPK-Vysotsk LUKOIL-IIInternational exercise at RPK-Vysotsk LUKOIL-IIFire-prevention trainings in Kaliningrad RegionFire-prevention trainings in Kaliningrad RegionExercises Kaliningrad 2004Exercises Kaliningrad 2004Post cardsPost cardsSecuritiesSecuritiesPhotoPhotoEnvelopesEnvelopesStampsStampsReportsReportsFor Investors and AnalystsFor Investors and AnalystsFor ShareholdersFor ShareholdersGeneral Shareholders MeetingsGeneral Shareholders MeetingsShareholders EquityShareholders EquitySecurities trading statisticsSecurities trading statisticsFCA DisclosureFCA DisclosureFinancial ReportsFinancial ReportsLUKOIL Annual ReportsLUKOIL Annual ReportsLUKOIL Data BooksLUKOIL Data BooksLUKOIL Fact BookLUKOIL Fact BookSustainability ReportSustainability ReportCorporate Governance ReportCorporate Governance ReportFinancial FundamentalsFinancial FundamentalsOperating HighlightsOperating HighlightsPresentationsPresentationsFinancial CalendarFinancial CalendarInvestment calculatorInvestment calculatorAnalyst CoverageAnalyst CoverageInvestor Trips to Sites Investor Trips to Sites ContactsContactsPerm (2013)Perm (2013)Lower VolgaLower VolgaUzbekistanUzbekistanPerm (2003)Perm (2003)Karachaganak Karachaganak West SiberiaWest SiberiaEgyptEgyptShareholder Relations Policy of OAO LUKOILShareholder Relations Policy of OAO LUKOILInvestment calculatorInvestment calculatorDividendsDividendsInformation for DR holders Information for DR holders FAQFAQContactsContactsAnnual General Shareholders MeetingAnnual General Shareholders MeetingExtraordinary General Shareholders Meeting Extraordinary General Shareholders Meeting History of Share Capital History of Share Capital ShareholdersShareholdersCompany SecuritiesCompany SecuritiesShare price informationShare price informationDebt securities price informationDebt securities price informationShare price historyShare price historyInvestment calculatorInvestment calculatorOil and Gas ReservesOil and Gas ReservesExplorationExplorationField Development and ProductionField Development and ProductionProspective Projects Prospective Projects Oil RefiningOil RefiningOils and lubricantsOils and lubricantsGas Processing Gas Processing PetrochemicalsPetrochemicalsCrude Oil DeliveriesCrude Oil DeliveriesGas DeliveriesGas DeliveriesPetroleum Product MarketingPetroleum Product MarketingPersonnel Management PolicyPersonnel Management PolicySocial Code of OAO LUKOIL Social Code of OAO LUKOIL Charity and Social ActivitiesCharity and Social ActivitiesSportsSportsCorporate retirement programCorporate retirement programSupport for Orphanages and Educational Establishments for ChildrenSupport for Orphanages and Educational Establishments for ChildrenEducation Programs Education Programs Support for Medical Institutions Support for Medical Institutions Social Project ContestSocial Project ContestSupport for Museums and Creative TeamsSupport for Museums and Creative TeamsPublishing ProjectsPublishing ProjectsSupport for Religious ConfessionsSupport for Religious ConfessionsTargeted AssistanceTargeted AssistanceCorporate VolunteeringCorporate VolunteeringOAO LUKOIL's Special Projects OAO LUKOIL's Special Projects Corporate Sporting Events Corporate Sporting Events Company Policy Company Policy Caring for the Environment Caring for the Environment cological monitoringcological monitoringCertificationCertificationImplementing the Kyoto ProtocolImplementing the Kyoto ProtocolGreen InitiativesGreen InitiativesNew Generation Motor FuelNew Generation Motor FuelUtilization of Associated Petroleum GasUtilization of Associated Petroleum GasGreen News LukoilGreen News LukoilRenewable energyRenewable energyAssociated SitesAssociated SitesSubsidiaries' WebsitesSubsidiaries' Websites
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General Information

LUKOIL is a major international vertically-integrated oil & gas company, accounting for 2.1% of global output of crude oil.


The strong position, which the Company enjoys today, is the fruit of 20 years work to expand the reserve base, increasing business scale by seeking out and executing strategic transactions
.


LUKOIL today

ü       2.1% of global production of crude oil

ü     The largest privately owned oil & gas company in the world by proved oil reserves

ü     3th largest privately owned oil & gas company in the world by oil production

ü       16.3% of Russian crude oil production and 16.7% of Russian crude oil refining 

ü       One of the biggest Russian oil business groups with $139 billion revenue and net income in excess of $11 billion


Exploration & Production segment

LUKOIL is implementing oil & gas exploration and production projects in 13 countries.


Proved reserves as of December 31, 2012 were 17.3 billion barrels of oil.


90.6%
of Companys proved reserves and 89.8% of marketable hydrocarbon production are in Russia.


The Company is also taking part in projects in 5 countries outside Russia.


Most activity is concentrated in four federal districts of the Russian Federation: the North-West, the Volga, the Urals and the South.


The Company's main resource base and oil production region is Western Siberia
which accounted for 44% of proved hydrocarbon reserves and 49% of LUKOILs hydrocarbon  production in 2012.


International projects
account for 9.4% of Companys proved hydrocarbon reserves and 10.2% of marketable hydrocarbon production.


Refining & Marketing segment

Refining & marketing is LUKOIL's second major business segment.


By developing this segment the Company lowers its exposure to high price volatility on the crude oil market and enhances its competitive position in main business regions by production and sale of high-quality petroleum products with high value-added.


LUKOIL currently produces a wide range of high-quality petroleum and gas products and petrochemicals, selling them via wholesale and retail in over 30 countries.


Has oil refineries in 6 countries (including share in the ISAB refinery complex and Zeeland Refinery).


Overall capacity of LUKOIL Group refineries at the end of 2012 was 77.1 mln tons of crude oil per year.


The Company owns 4 oil refineries and 2 mini-refineries in Russia, as well as 4 gas-processing plants. The Company's Russian assets also include 2 petrochemical plants.


Overall capacity of Russian oil refineries of LUKOIL Group at the end of 2012 was 45.7 mln tons per year (335 mln barrels per year).


LUKOIL currently produces a wide range of high-quality petroleum and gas products and petrochemicals, selling them via wholesale and retail in over 30 countries.


As of July 2012 all of LUKOIL s Russian refineries had switched to production of automotive gasoline that fully meets Euro-5 specifications. This enabled savings in 2012 on excise rates, which are differentiated according to fuel quality.


Euro-5 gasoline ensures so-called clean exhaust, reducing emission of sulphur oxides and the products of incomplete combustion of aromatics (including the particularly dangerous carcinogen and mutagenic, benzopyrene).

Power Generation sector


Power Generation sector comprises all aspects of power generation, including delivery and marketing of electrical energy and of heat produced at power plants. The nucleus of the segment is the Russian power generating company, UGK TGK-8, which was acquired by LUKOIL in 2008, but it also includes companies producing electricity and heat in Bulgaria, Romania, and Ukraine.


LUKOIL Group has power generating capacity of
4.0 GW. The Groups electricity output in 2012 totalled 15.billion kWh. Heat production in 2012 was 14.7 million Gcals.


Innovation policy

Innovation and the application of new technologies are among the main competitive strengths of LUKOIL. The Companys specialists both design new technologies and work to modernize existing technologies.

Total Research and Development financing increased in 2012 and accounted for more than $157 million (comparing with more than $140 million in 2011).

A project to create innovative technologies for improvement of oil recovery rates through integration of heat and gas methods was presented in 2012 in the framework of cooperation between RITEK and the Skolkovo Foundation. A RITEK subsidiary, RITEK-ITs, was set up for purposes of project implementation and became a participant of the Skolkovo Foundation in 2012.

The Group continued to work closely in 2012 with the Russian Corporation of Nanotechnologies (RUSNANO) on commercialization of nanotechnologies with applications in the oil & gas industry. RITEK carried out joint work with RUSNANO during the accounting year on innovative developments for extraction of difficult reserves in Bazhenov formations. Testing of mini-GTL technologies was also carried out as part of R&D work on techniques for refining of associated petroleum gas into liquid hydrocarbons.



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