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LUKOIL produces 1,500 million tons of oil over its 20-year history

September 06, 2011, 19:35 UTC+3

The jubilee tonne of oil was produced at the Druzhininskaya field near Kogalym in West Siberia, which is one of the major producing regions of LUKOIL

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MOSCOW, September 6 (Itar-Tass) —— On Tuesday, the 1.5th billion tonne of oil was produced at the field of one of Russia’s biggest oil companies LUKOIL, the company’s press service said, adding that this remarkable event coincided with its 20th anniversary. The company was established in November 1991.

The jubilee tonne of oil was produced at the Druzhininskaya field near Kogalym in West Siberia, which is one of the major producing regions of LUKOIL.

On Tuesday, Kogalym became a venue, which hosts a Forum of LUKOIL’s young specialists.

“Efforts of several generations of oilfield workers were put into the production of this 1.5th billion tonnes of oil. At first, they developed these remote territories, built roads and towns, and then developed oil fields,” LUKOIL President Vagit Alekperov told the youth’s forum.

“Currently, already the third generation of oilfield workers produces oil at those deposits. Young people are keeping up business of their fathers and grandfathers,” he stressed.

Governor of the Khanty-Mansi Autonomous Area Natalya Komarova attended the forum’s opening.

LUKOIL is one of the world’s leading vertically integrated oil and gas companies. Main activities of the company are exploration and production of oil and gas, production of petroleum products and petrochemicals, and marketing of these outputs. Most of the company’s exploration and production activity is located in Russia, and its main resource base is in Western Siberia. LUKOIL owns modern refineries, gas processing and petrochemical plants located in Russia, Eastern and Western Europe, near-abroad countries. The company’s products are marketed in Russia, Eastern and Western Europe, in near-abroad countries and the USA.

LUKOIL is the second largest private oil Company worldwide by proven hydrocarbon reserves. The company has around one percent of global oil reserves and 2.4 percent of global oil production. LUKOIL dominates the Russian energy sector, with 18.6 percent of total Russian oil production and 18.9 percent of total Russian oil refining.

At the beginning of 2010, LUKOIL proven reserves were at 13,696 million barrels of crude oil and 22,850 billion cubic feet of natural gas.

LUKOIL has an outstanding portfolio of production assets. The main production region for LUKOIL Group is Western Siberia. LUKOIL is carrying out international exploration and production projects in Kazakhstan, Egypt, Azerbaijan, Uzbekistan, Saudi Arabia, Colombia, Venezuela, Cote d’Ivoire, Ghana and Iraq.

At the beginning of 2010 the company’s marketing network embraced 26 countries, including Russia, former Soviet republics, European countries the near-abroad and European countries, as well as the USA and includes 199 tank farm facilities with total capacity of 3.13 million cubic meters as well as 6,620 filling stations, including franchises.

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