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Oil Company "LUKOIL"

April 13, 2005

LUKOIL preliminary operating data for 1Q 2005

In the first quarter of 2005 LUKOIL Group (subsidiary companies and LUKOIL’s share in output of affiliated companies, forming the Company’s consolidated financial results) total hydrocarbon production reached 1.9 mln boe per day, up 5.3% y-o-y.

Crude oil output of LUKOIL Group totaled 1.79 mln bpd* (up 5.6% y-o-y) or 22.0 mln tons (up 4.5% y-o-y). The growth was organic.

LUKOIL subsidiary companies produced 21.0 mln tons of crude, up 4.1% y-o-y.

Average flow rate of oil wells was 11.0 tons per day, which is 4.8% more than in the first quarter of 2004.

Flow rate of new oil wells grew by 14.9% compared with the first quarter of 2004 to 48.7 tons per day.

Gas output of LUKOIL Group was 1.6 bcm, which is in line with the output in the first quarter of 2004. Daily gas output grew by 1.0% y-o-y. Natural gas output was 0.44 bcm, up 3.9% y-o-y.

LUKOIL refined 10.6 mln tons of crude at its own refineries, which is 4.6% more than in the first quarter of 2004. Throughputs at international refineries grew by 48.2% as Romanian refinery “Petrotel-LUKOIL” has been put into operation. A slight decrease of throughputs at domestic refineries was due to the scheduled repair in the first quarter of 2005.

 

 

Hydrocarbon production, th. boe per day

 

1Q 2005

1Q 2004

Growth

 LUKOIL Group output:

1,895

1,799

+5.3%

Including

 

 

 

Crude oil output*

1,790

1,695

+5.6%

Gas output**

105

104

+1.0%

 

 

Crude oil output, th. tons

 

1Q 2005

1Q 2004

Growth

LUKOIL Group output:

21,982

21,043

+4.5%

Including

 

 

 

Subsidiary companies

21,004

20,174

+4.1%

Share in affiliated companies

978

869

+12.5%

 

 

 

 

Russia:

20,984

20,239

+3.7%

Including

 

 

 

Subsidiary companies

20,548

19,868

+3.4%

Share in affiliated companies

436

371

+17.5%

 

 

 

 

International projects:

998

804

+24.1%

Including

 

 

 

Subsidiary companies (PSA)

456

306

+49.0%

Share in affiliated companies

542

498

+8.8%

 

 

 

 

LUKOIL Group output,  th. bpd*

1,790

1,695

+5.6%

 

 

 

 

Average flow rate of oil wells, tons per day

11.0

10.5

+4.8%

Flow rate of new oil wells, tons per day

48.7

42.4

+14.9%

 

 

 

Gas output, mcm

1Q 2005

1Q 2004

Growth

LUKOIL Group output:

1,610

1,610

+0.0%

Including

 

 

 

Subsidiary companies

1,556

1,548

+0.5%

Share in affiliated companies

54

62

-12.9%

 

 

 

 

Russia:

1,301

1,302

-0.1%

Including

 

 

 

Subsidiary companies

1,285

1,292

-0.5%

Share in affiliated companies

16

10

+60.0%

 

 

 

 

International projects:

309

308

+0.3%

Including

 

 

 

Subsidiary companies (PSA)

271

256

+5.9%

Share in affiliated companies

38

52

-26.9%

 

 

 

 

LUKOIL Group output, th. boe per day**

105

104

+1.0%

 

*Conversion ratio from tons to barrels is 7.33

**Includes marketable gas and gas for internal consumption as well as technological losses. Conversion ratio from m3  to barrels of oil equivalent is 1,000 m3 = 5.885 boe.

Refinery throughputs, th. tons

 

1Q 2005

1Q 2004

Growth

Total

10,625

10,160

+4.6%

Russia

8,328

8,610

-3.3%

International

2,297

1,550

+48.2%

 

This information is based on preliminary production data, which may be adjusted and corrected during preparation of LUKOIL financial accounts for 1Q 2005. So the figures in this press release may differ from production statistics, which will be published together with the financial accounts.

 

 


Press Centre  OAO "LUKOIL"
phone.: (095)927-1677,  fax: (095)927-1653,
E-mail: pr@lukoil.com

 

 

 

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