Lukoil Daily Hydrocarbon Production Increased by 1.6% in Nine Months

OREANDA-NEWS. December 2, 2010. LUKOIL Group total hydrocarbon production available for sale reached 2,249 th. boe per day in nine months of 2010, which is a 1.6% increase y-o-y.

Crude oil production by LUKOIL Group in nine months of 2010 totalled 72.27 mln tons. Natural and petroleum gas output of LUKOIL Group available for sale was 13.80 bcm (grew by 26.1% y-o-y) of which output as part of international projects totalled 3.65 bcm and output in Russia was 10.15 bcm. Increase in Group hydrocarbon production was due to a larger amount of gas sales to Gazprom and hydrocarbon production growth in international projects.

Throughputs at the Company’s refineries (including its share in throughput at ISAB and TRN refining complexes) increased by 6.7% y-o-y in nine months of 2010 and reached 49.70 mln tons. Throughputs at the Company’s refineries in Russia increased by 1.1% y-o-y, throughputs at the Company’s international refineries grew by 21.4% y-o-y.

Hydrocarbon production available for sale, th. boe per day

Crude oil output, th. tons

     *   Conversion ratio from tons to barrels characterizes the density of oil from each of LUKOIL oilfields.

   **   Conversion ratio from cubic meters to barrels of oil equivalent is 1,000 cubic meters = 5.885 boe.