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Oil Company "LUKOIL"

February 14, 2005

LUKOIL preliminary operating data for 2004

In 2004 LUKOIL Group total hydrocarbon production reached 1.83 mln boe per day, up 7.5% y-o-y.

Crude oil output of LUKOIL Group (subsidiary companies and LUKOIL’s share in output of affiliated companies, forming the Company’s consolidated financial results) totaled 86.2 mln tons (up 7.4% y-o-y), or around 1.73 mln bpd*.

LUKOIL subsidiary companies produced 82.4 mln tons, up 8.3% y-o-y. Organic output growth of subsidiary companies was 5.3%.

Average flow rate of oil wells was 10.7 tons per day, which is 10% more than in 2003.

Flow rate of new oil wells grew by 24% compared with 2003 to 44.3 tons per day.

Gas output of LUKOIL Group was 6.5 bln m3, which is 14.3% more than in 2003.

LUKOIL refineries produced 40.9 mln tons of petroleum products in 2004, up 4.3% y-o-y.

 

Hydrocarbon production, th. boe per day

 

 

2004

2003

Growth

 LUKOIL Group output:

1,830

1,702

+7.5%

Including

 

 

 

Crude oil output*

1,726

1,611

+7.1%

Gas output**

104

91

+14.3%

 

 

 

 

 

 

 

 

 

Crude oil output, th. Tons

 

 

2004

2003

Growth

LUKOIL Group output:

86,200

80,226

+7.4%

Including

 

 

 

Subsidiary companies

82,408

76,072

+8.3%

Share in affiliated companies

3,792

4,154

-8.7%

 

 

 

 

Russia:

82,720

77,357

+6.9%

Including

 

 

 

Subsidiary companies

81,039

74,992

+8.1%

Share in affiliated companies

1,681

2,365

-28.9%

 

 

 

 

International projects:

3,480

2,869

+21.3%

Including

 

 

 

Subsidiary companies (PSA)

1,369

1,080

+26.8%

Share in affiliated companies

2,111

1,789

+18.0%

 

 

 

 

LUKOIL Group output,  kbpd*

1,726

1,611

+7.1%

 

 

 

 

Average flow rate of oil wells, tons per day

10.7

9.7

+10%

Flow rate of new oil wells, tons per day

44.3

35.7

+24%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gas output, mln m3

 

 

2004

2003

Growth

LUKOIL Group output:

6,473

5,664

+14.3%

Including

 

 

 

Subsidiary companies

6,213

5,411

+14.8%

Share in affiliated companies

260

253

+2.8%

 

 

 

 

Russia:

4,982

4,713

+5.7%

Including

 

 

 

Subsidiary companies

4,940

4,630

+6.7%

Share in affiliated companies

42

83

-49.4%

 

 

 

 

International projects:

1,491

951

+56.8%

Including

 

 

 

Subsidiary companies (PSA)

1,273

781

+63.0%

Share in affiliated companies

218

170

+28.2%

 

 

 

 

LUKOIL Group output, th. boe per day**

104

91

+14.3%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*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 mto barrels of oil equivalent is 1,000 m3 = 5.885 boe.

 

Petroleum product output, mln tons

 

 

2004

2003

Growth

Total

40.9

39.2

+4.3%

Russia

33.5

32.4

+3.4%

International

7.4

6.8

+8.8%

 

 

 

 

 

 

 

 

This information is based on preliminary production data, which may be adjusted and corrected during preparation of LUKOIL

financial accounts for 2004. 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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