Lukoil News


Lukoil Hits Milestone at Caspian Offshore

Jul 24, 2019

Russian oil company Lukoil has exceeded 15 million metric tons of cumulative output from its Vladimir Filanovsky field in the Caspian Sea.Moscow-headquartered multinational energy corporation said that full-scale commercial operation of the project started in the fall of 2016…

Lukoil Scans for Treasures Ahead of Oil Exploration

Jul 08, 2019

A recent subsea survey project in the Black Sea has scanned for ancient shipwrecks and other archaeological treasures ahead of future oil exploration in the area.UK based services firm James Fisher Marine Services (JFMS) said it completed the…

Lukoil Eyes Kazakhstan Development

Jun 09, 2019

Lukoil said it has signed a preliminary agreement with Kazakhstan's state energy company to develop the I-P-2 license block in the Kazakh Sector of the Caspian Sea.Lukoil president Vagit Alekperov signed the Heads of Agreement deal with JSC NC KazMunayGaz chairman Alik Aidarbayev at the 23rd St…

Lukoil to Receive 50% in New Caspian Block

May 31, 2019

Russian oil company Lukoil is set to take a 50% stake under an agreement to develop a block on the Caspian sea, Interfax news agency quoted Kazakh state energy company Kazmunaigaz as saying on Friday.(Reporting by Anrdey Kuzmin Writing by Katya Golubkova; Editing by Susan Fenton)

Lukoil 2020 Capex May Exceed $8 Bln

May 30, 2019

Russian oil producer Lukoil's capital expenditure may exceed $8 billion next year, the company's Vice President Pavel Zhdanov said on Thursday.The oil producer sees its capex at between 475 billion and 500 billion roubles this year, depending on the global oil deal between OPEC and its allies…

Lukoil Starts Two Wells in the Baltic Sea

May 16, 2019

Russian oil company Lukoil said it has commenced commercial operation of two wells at D41 offshore field in the Baltic Sea. Construction of one of the wells finished on February 6, 2019, the other was completed on May 7, 2019.The field is operated…

Lukoil Develops Arctic-Friendly Oil Spill Kit

May 08, 2019

Russian oil company Lukoil has been given state approval for its new absorbent and biotechnology-based oil spill response technologies for Arctic regions. Lukoil says the technologies, on which it has taken out nine patents, have been designed…

Lukoil Inks Deal on Kazakhstan's Zhenis Block

Apr 03, 2019

Lukoil has signed a contract with the Ministry of Energy of the Republic of Kazakhstan and KazMunayGas for hydrocarbon exploration and development of the Zhenis block in Kazakhstan's sector of Caspian Sea, Russia's second-largest oil producer announced on Wednesday…

Lukoil Lifts Fourth-quarter Net Profit

Mar 04, 2019

Russia's No.2 oil producer Lukoil's fourth-quarter net profit rose to 159 billion roubles ($2.42 billion), up from 120.5 billion roubles in the same period a year earlier, the company said on Monday.Fourth-quarter revenue stood at 2 trillion roubles…

Lukoil Opposes Prolonged Global Oil Output Cuts

Jan 23, 2019

The global oil output cut should not be prolonged, the head of Russia's second biggest oil producer, Lukoil, said on Wednesday, Interfax news agency reported.Lukoil would have to cut its output by 30,000 barrels per day by April under the OPEC and non-OPEC oil deal…

Caspian is Key for Lukoil

Dec 24, 2018

Alexander Oboronkov leapt at the chance to work on the Filanovsky platform after it was launched in 2016, keen to see Russia's largest Caspian Sea oilfield in action.The Filanovsky oilfield, along with the nearby Korchagin and Rakushechnoye fields…

Lukoil, KazMunayGas Partner in the Caspian

Dec 04, 2018

Lukoil and KazMunayGas have agreed to collaborate to develop the Zhenis project in the Kazakhstan's sector of the Caspian Sea.President of PJSC LUKOIL, Vagit Alekperov, and Chairman of the Management Board of JSC NC KazMunayGas, Alik Aidarbayev…

Lukoil Sees Production Up 3.5% in 2018

Nov 29, 2018

Russian oil producer Lukoil said on Thursday that it was expecting its hydrocarbon production to increase by 3.5 percent this year.The company also plans an increase in hydrocarbon production of 1 percent next year, a company official said on a conference call…

Lukoil starts Filanovsky drilling

Dec 07, 2017

Lukoil has started drilling the first production well at the Vladimir Filanovsky field after completing construction of the field’s second phase development facilities. The company plans to complete drilling early next year, Lukoil said in a 7 December statement…

Lukoil goes horizontal

Jan 10, 2013

Lukoil has conducted a four-well horizontal drilling campaign at the Yu Korchagin field in the northern Caspian Sea. Initial flow rates tested between 4000b/d and 10,000b/d. Recoverable oil reserves at the field are estimated at 360 million barrels.

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