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Oil Company "LUKOIL"

May 18, 2009

LUKOIL crude oil production increased by 3.2% in the first quarter of 2009, refinery throughputs – by 7.3%

LUKOIL Group total hydrocarbon production available for sale reached 2,225 th. boe per day in the first quarter of 2009, which is a 1.5% increase y-o-y. Crude oil production by LUKOIL Group increased by 3.2% y-o-y to 1,976 th. barrels per day.

Crude oil production of LUKOIL Group in the first quarter of 2009 totalled 24.13 mln tons. At the same time, crude oil output from the Yuzhnaya Khylchuya field reached 1.5 mln tons. Natural and petroleum gas output of LUKOIL Group available for sale was 3.81 bcm: output as part of international projects totalled 1.22 bcm (grew by 34.2% y-o-y), output in Russia was down 23.4% y-o-y to 2.59 bcm. The decrease in gas output available for sale in Russia was due to the decrease in purchases of gas from Gazprom.

Throughputs at the Company’s refineries (including its share in throughput at ISAB refining complex) increased by 7.3% y-o-y in the first quarter of 2009 and reached 14.28 mln tons. Throughputs at the Company’s refineries in Russia decreased by 1.5% y-o-y, throughputs at the Company’s international refineries grew by 50.6% y-o-y.

Hydrocarbon production available for sale, th. boe per day

 

1Q 2009

1Q 2008

Growth

Hydrocarbon production, th. boe per day

2,225

2,193

+1.5%

 Crude oil output, th. bpd*

1,976

1,915

+3.2%

Natural and petroleum gas output available for sale, th. boe per day**

249

278

-10.4%

Crude oil output, th. tons

 

1Q 2009

1Q 2008

Growth

LUKOIL Group output:

24,127

23,622

+2.1%

Including

 

 

 

Subsidiary companies

23,520

23,028

+2.1%

Share in affiliated companies

607

594

+2.2%

 Russia:

22,731

22,269

+2.1%

Including

 

 

 

Subsidiary companies

22,656

22,196

+2.1%

Share in affiliated companies

75

73

+2.7%

 International projects:

1,396

1,353

+3.2%

Including

 

 

 

Subsidiary companies

864

832

+3.8%

Share in affiliated companies

532

521

+2.1%

LUKOIL Group output,

th. bpd*

1,976

1,915

+3.2%

*   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 equivalents is 1,000 cubic meters = 5.885 boe.

 

 

 

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