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LUKOIL Oil Company

July 27, 2005

LUKOIL preliminary operating data for 1H 2005

In the first half of 2005 LUKOIL Group (subsidiary companies and LUKOIL’s share in output of affiliated companies, forming the Company’s consolidated financial results) total hydrocarbon production reached 1.91 mln boe per day, up 6.2% y-o-y.

Crude oil output of LUKOIL Group totaled 1.79 mln bpd* (up 5.1% y-o-y) or 44.2 mln tons (up 4.5% y-o-y). The growth was organic.

LUKOIL subsidiary companies produced 42.35 mln tons of crude, up 4.4% y-o-y.

Average flow rate per oil well reached 11 tons per day, up 3.8% y-o-y.

Flow rate per new oil well grew by 4.6% y-o-y to 45.2 tons per day.

Petroleum and natural gas output of LUKOIL Group was 3.8 bcm, which is 22.8% more than in the first half of 2004. Daily petroleum and natural gas output grew by 24.0% y-o-y to 124 th. boe per day. Natural gas output was 1.41 bcm, up 71.7% y-o-y.

LUKOIL refined 22.5 mln tons of crude at its own refineries, which is 7.1% more than in the first half of 2004. Throughputs at international refineries grew by 43.3% as Romanian refinery “Petrotel-LUKOIL” has been put into operation. A slight decrease of throughputs at domestic refineries was due to the scheduled repair in the first half of 2005.

                                                                       Hydrocarbon production, th. boe per day

 

1H 2005

1H 2004

Growth

 LUKOIL Group output:

1,915

1,804

+6.2%

Including

 

 

 

Crude oil output*

1,791

1,704

+5.1%

Petroleum and natural gas output**

124

100

+24.0%

 

Crude oil output, th. tons

 

1H 2005

1H 2004

Growth

LUKOIL Group output:

44,225

42,307

+4.5%

Including

 

 

 

Subsidiary companies

42,351

40,552

+4.4%

Share in affiliated companies

1,874

1,755

+6.8%

 

 

 

 

Russia:

42,323

40,698

+4.0%

Including

 

 

 

Subsidiary companies

41,425

39,955

+3.7%

Share in affiliated companies

898

743

+20.9%

 

 

 

 

International projects:

1,902

1,609

+18.2%

Including

 

 

 

Subsidiary companies (PSA)

926

597

+55.1%

Share in affiliated companies

976

1,012

-3.6%

 

 

 

 

LUKOIL Group output, th. bpd*

1,791

1,704

+5.1%

 

 

 

 

Average flow rate of oil wells, tons per day

11.0

10.6

+3.8%

Flow rate of new oil wells, tons per day

45.2

43.2

+4.6%

 

Petroleum and natural gas output, mcm

 

1H 2005

1H 2004

Growth

LUKOIL Group output:

3,801

3,095

+22.8%

Including

 

 

 

Subsidiary companies

3,660

2,971

+23.2%

Share in affiliated companies

141

124

+13.7%

 

 

 

 

Russia:

2,797

2,451

+14.1%

Including

 

 

 

Subsidiary companies

2,768

2,432

+13.8%

Share in affiliated companies

29

19

+52.6%

 

 

 

 

International projects:

1,004

644

+55.9%

Including

 

 

 

Subsidiary companies (PSA)

892

539

+65.5%

Share in affiliated companies

112

105

+6.7%

 

 

 

 

LUKOIL Group output, th. boe per day*

124

100

+24.0%

 

*  Conversion ratio from tons to barrels is 7.33.

**  Includes marketable gas and gas for internal consumption as well as technological losses. Conversion ratio from m3  to barrels of oil equivalent is 1,000 m3 = 5.885 boe.

 

Refinery throughputs*, th. tons

 

1H 2005

1H 2004

Growth

Total

22,524

21,039

+7.1%

Russia

17,431

17,486

-0.3%

International

5,093

3,553

+43.3%

 

*  Including mini-refineries.

 

This information is based on preliminary production data, which may be adjusted and corrected during preparation of LUKOIL financial accounts for 1H 2005. So the figures in this press release may differ from production statistics, which will be published together with the financial accounts.


Press Centre  OAO "LUKOIL"
phone.: (095)927-1677,  fax: (095)927-1653,
E-mail: pr@lukoil.com

 

 

 

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