Lukoil boosted its production of gas in Q2 2017 by 7.6% compared with Q1, thanks to domestic and foreign investments. Gas output was up 9.6% H1 2017 compared with the same period of last year, the company reported on August 15, 2017.
The company’s daily hydrocarbon production excluding West Qurna-2 project for the 1st 6 months of 2017 increased by 1.5% year-on-year to 2,217 thousand boe per day.
In the 2nd quarter of 2017 production was 2,222 thousand boe per day, representing a 0.4% growth quarter-on-quarter.
The increase in production was driven by the development of gas projects.
Crude oil production in the 2nd quarter of 2017 amounted to 21.8 million tonnes.
The quarter-on-quarter decline was due to the temporary external limitations of companies' production volumes.
For the 1st 6 months of 2017 oil production was 43.6 million tonnes.
The year-on-year dynamics was mainly driven by the reduction in compensation crude oil volumes from the West Qurna-2 project in Iraq.
Planned production growth continued at V. Filanovsky and Pyakyakhinskoe fields and amounted to 25.8% and 11.7% quarter-on-quarter, respectively.
Gas production for the 2nd quarter of 2017 increased by 7.6% quarter-on-quarter and amounted to 7.0 bcm.
As a result, for the 1st 6 months of 2017 Lukoil produced 13.4 bcm of gas, which is 9.4% higher year-on-year.
Production dynamics was positively impacted by the launch of gas facilities at Pyakyakhinskoe field in the beginning of 2017 and the development of gas projects in Uzbekistan.
Refinery throughput at refineries in the 2nd quarter of 2017 was 16.4 million tonnes, which is 1.2% higher quarter-on-quarter.
For the 1st 6 months of 2017, refinery throughput was 32.6 million tonnes, a 1.1% increase year-on-year.
The quarter-on-quarter positive dynamics was mainly attributable to the increase in the utilization rate at the refinery in Romania after maintenance in the 1st quarter of 2017.
A moderate decrease of company's throughput volumes in Russia was driven by repair works at Perm refinery, while utilization rates at refineries in Nizhny Novgorod and Volgograd increased due to seasonal factors.
In the 1st 6 months of 2017, throughput volumes at our refineries in Russia increased by 5.1% year-on-year primarily due to maintenance works at refineries in Nizhny Novgorod and Volgograd in the 1st half of 2016.
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