Lukoil 1H Output Up, Thanks to Gas
Russian independent Lukoil’s 1H2018 net production, excluding Iraq’s West Qurna-2, reached 2.287mn barrels of oil equivalent per day, up 3.2% year on year thanks to gas in Uzbekistan, it said August 15.
In the first half of 2018, the company’s gas production increased to 16.13bn m3, up by 20% compared to 1H2017. The main driver of gas production growth was the successful development of projects in Uzbekistan. Due to the launch of new gas treatment facilities, production at its Uzbek projects at Kandym and Gissar doubled year-on-year in 1H2018 to 6.1bn m3.
Lukoil’s liquids output was flat, as Russia aligned itself with Opec in restraining oil production during the first half of 2018. The production restraints were eased with effect from July 2018.
Lukoil 1H and 2Q gas production (mn m3)
Source: Lukoil