LUKOIL is one of the largest oil & gas vertical integrated companies in the world accounting for over 2% of crude production and circa 1% of proved hydrocarbon reserves globally.
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 64.08 mln tons for 9 months of 2004, up 7.9% y-o-y.
The Board of Directors of LUKOIL Group, meeting today in Odessa (Ukraine), confirmed main production targets and parameters of the Company’s budget and investment program for 2005. The parameters were decided using a Brent forecast price of $28 per barrel.
Standard & Poor’s (S&P) international rating agency named OAO LUKOIL (“LUKOIL” or “the Company”) the leader in terms of transparency and disclosure among all Russian oil companies in its 2004 transparency and disclosure survey. Concurrently LUKOIL was ranked 6th among 50 largest Russian companies giving way mostly to telecoms sector. Compared with 2003 LUKOIL improved its results with an increase of 2 ranks.
Vagit Alekperov, President of OAO LUKOIL, and Pavel Yezekiyev, Executive Director of Bulgarian Investment Agency, signed a Memorandum of Understanding (“MoU”) in Burgas (Bulgaria) today.
LUKOIL securities trading volumes on the London Stock Exchange in September 2004 reached $1.66 billion or 23% of the total volume of the foreign companies’ securities traded.
OAO LUKOIL, OOO LUKOIL-Western Siberia, OAO AK Sibur, OAO Sibur-Tyumen and OAO Lokosovsky GPK have signed an amicable agreement.
Vagit Alekperov, President of OAO LUKOIL, and Alexander Zhilkin, acting governor of Astrakhan Region, signed an Agreement on Mutual Cooperation between the Administration of Astrakhan Region and OAO LUKOIL for 2004-2010 in Astrakhan today.
Vagit Alekperov, President of OAO LUKOIL, took part in the ceremony that launched the revamp of a basic semi-submersible jacket (BSSJ) in Astrakhan today. LUKOIL plans to invest over $100 million in the project and complete it in two years.
LUKOIL-Western Siberia, a 100% subsidiary of OAO LUKOIL, plans to spend around $300 million on the development of Bolshekhetskaya depression fields in Yamalo-Nenetsky Autonomous Region in 2005.
LUKOIL’s systems of industrial and ecological safety and labor protection were certified yet again today as being in accordance with the ISO 14001 and OHSAS 18001 international standards.
