Lukoil Sees Oil Output Returning to Pre-Pandemic Levels in 2023

Illustration - Lukoil's platform in the Caspian Sea / File Image: Lukoil
Illustration - Lukoil's platform in the Caspian Sea / File Image: Lukoil

Lukoil, Russia's second-biggest oil producer, plans to produce 83 million to 84 million tonnes of oil a year in Russia over the next three years, with output returning to pre-pandemic levels in 2023, it said on Wednesday.

The company, which earlier on Wednesday reported third-quarter net income of 192.5 billion roubles, up 1.4% from the previous quarter, said it expects capital expenditure in 2022 of about 550 billion roubles ($7.36 billion), excluding the West Qurna-2 project. 

($1 = 74.7225 roubles) 

(Reporting by Olesya Astakhova Writing by Alexander Marrow Editing by David Goodman )

Current News

Women in Maritime Day: Shaping the Future of Maritime Safety

Women in Maritime Day: Shaping

New Dutch Coalition Aims for More Offshore Gas Extraction

New Dutch Coalition Aims for M

Iberdrola to Triple Offshore Wind Assets

Iberdrola to Triple Offshore W

ABS Wavesight eLog Books for Offshore Drilling

ABS Wavesight eLog Books for O

Subscribe for OE Digital E‑News

Offshore Engineer Magazine