Press releases

As part of its effort to minimize impact on water bodies of the Komi Republic, LUKOIL commissioned new water treatment facilities and commenced closed loop steam generation at its oil mines in Yarega, Pervomaisky and Nizhny Domanik settlements.  

PJSC "LUKOIL" announces the results of the reserves assessment and independent audit as of December 31, 2020. According to the SEC classification, the Company's proved hydrocarbon reserves totaled 15.4 billion barrels of oil equivalent, 76% of which stood for liquids.

In the fourth quarter of 2020 LUKOIL Group's average hydrocarbon production excluding the West Qurna-2 project was 2,065 kboe per day, which is 9.5% higher quarter-on-quarter. The growth was attributable to the dynamics of the external limitations on oil production due to the OPEC+ agreement, as well as recovery of gas production in Uzbekistan.

LUKOIL will support implementation of socially important projects in the Perm region under the Cooperation Protocol for 2021 signed by the company and the region. The greatest of those projects envisions construction of a new stage for the Perm Youth Theatre.​

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LUKOIL and Gazprom leaders discussed current issues of cooperation with special attention to the Vaneyvisskoye and Layavozhskoye fields development.

Governor of the Khanty-Mansi Autonomous District – Yugra Natalya Komarova and President of LUKOIL Vagit Alekperov discussed development prospects for amenities infrastructure in Kogalym and visited the facilities that are currently being constructed with the Company's support.

At today's meeting of LUKOIL Board of Directors in Moscow the members of the Board conducted a preliminary review of the Company's performance in 2020 and defined main objectives for 2021, which include, among other things, enhancement of the management system, observing investment discipline and further development of the carbon management system.

LUKOIL has become the first company in Russia to successfully develop and implement own completion system for horizontal wells. The high technological reliability of the new import substituting equipment will make it possible for the Company to start the commercial production of reserves which till recently was hindered due to lack of suitable Russian-made technology.