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ExxonMobil Announces Fifth Discovery Offshore Guyana

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Turbot is ExxonMobil’s latest discovery to date in the country, adding to previous discoveries at Liza, Payara, Snoek and Liza Deep. Following completion of the Turbot-1 well, the Stena Carron drillship will move to the Ranger prospect. An additional well on the Turbot discovery is being planned for 2018. ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Turbot-1 well on Aug. 14, 2017 and encountered a reservoir of 75 feet (23 meters) of high-quality, oil-bearing sandstone in the primary objective. The well ... Read More »

LUKOIL SIGNS COOPERATION AGREEMENT WITH INTERNATIONAL LABOR ORGANIZATION

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The document provides for cooperation in the area of youth employment in the Russian Federation, Azerbaijan, Kazakhstan and Uzbekistan. The accomplishment of the project is commissioned to the ILO Moscow office, responsible for 9 other CIS countries besides Russia (Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Republic of Kirghizia, Tajikistan, Turkmenistan and Uzbekistan). In Russia, the project is realized in 6 regions: those of Astrakhan and Kaliningrad, in Perm Territory, the Khanty-Mansiisk Autonomous Area, the Republics of Kalmykia a... Read More »

PRESIDENT OF LUKOIL AND GOVERNOR OF NENETS AUTONOMOUS DISTRICT DISCUSS PROSPECTS FOR COOPERATION

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In 2016, under the Social Partnership Agreement, LUKOIL financed the 3rd Arctic Music Festival "Days of Classical Music in the Arctic" and construction of the first skate park in Naryan-Mar, capital of the District. The implementation of the Krasnyi Choum project continued with an aim to improve access to health care services for indigenous ethnic minorities of the North and population of remote areas of the District. LUKOIL has also paid admission and membership fees for professionals from the Nenets Autonomous District to participate in World... Read More »

LUKOIL RELEASES YEAR OF ECOLOGY BOOKLET

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The booklet also highlights LUKOIL’s achievements and objectives associated with lower emissions of greenhouse gases, better energy efficiency, reduced process losses, new technologies for production of lubricants and fuels, broader use of renewable energy and care for biodiversity.   The online version of the booklet is available on LUKOIL’s website in Russian and English. Printed copies will be distributed at oil and gas forums and exhibitions throughout 2017.   As President of LUKOIL Vagit Alekperov says in his address ... Read More »

LUKOIL AND RUSSIAN DEFENSE MINISTRY SIGN AGREEMENT ON SUPPORT OF ALEXANDROV SONG AND DANCE ENSEMBLE

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The document provides, in particular, that LUKOIL will offer financial assistance in rebuilding the creative potential of the Alexandrov Song and Dance Ensemble of the Russian Army. The group's facilities and equipment will be upgraded, new sound amplifiers, musical instruments, playback equipment and specially designed hardware will be purchased, while the ensemble's concert venues will be renovated and artistically redesigned. LUKOIL's funding will go to support new talents of the iconic Alexandrov company and to assist the families of ... Read More »

LUKOIL: FIRST MILLION TONS OF OIL AT FILANOVSKY FIELD

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Having already commissioned three horizontal sidetracked wells, the company is now constructing the fourth one. Alongside, facilities of the field’s second phase of development are being built: an offshore ice-resistant fixed platform (IRP-2) and a living quarter platform (LQP-2). The substructures were taken to the sea and installed at prescribed points. The annual planned production level is estimated at 6 million tons of oil. ... Read More »

LUKOIL ANNOUNCES CONSOLIDATED IFRS RESULTS FOR THE THIRD QUARTER AND NINE MONTHS OF 2016

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Financial highlights 3Q 2Q   9M 9M 2016 2016 (million rubles) 2016 2015         1,309,488 1,338,959 Sales 3,826,121 4,381,324 165,890 189,571 EBITDA*  547,453 630,418 160,436 182,681 EBITDA* excluding West Qurna-2 513,615 523,058 54,803 62,567 Profit attributable to LUKOIL shareholders 160,195 356,172 120,615 118,886 Capital expenditures i... Read More »

LUKOIL CONTINUES FACILITY CONSTRUCTION FOR THE SECOND STAGE OF FILANOVSKY FIELD DEVELOPMENT IN THE CASPIAN SEA

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Jackets for the platform were fabricated at the Galaktika shipyard in Astrakhan. Every jacket is sized 28.3х23.7х19 meters and weights over 2,500 tons. The topside of the platform is currently being fabricated in the Astrakhan region. Topside of accommodation platform for the second stage is currently being built at shipyards in Astrakhan. Jackets for this platform were transported and installed in the Caspian Sea in early July. Background information: The Filanovsky field is the largest discovery in Russia in the past 25 years. It is loca... Read More »

First cargo of Yamal oil shipped from Arctic Gate offshore terminal

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Russian President Vladimir Putin gave the command via a video call to start loading a tanker with oil from the Novoportovskoye field. The Novoportovskoye oil, gas and condensate field, the richest in oil reserves in the Yamal Peninsula, is located 700 kilometers away from the existing pipeline infrastructure. That is why it was decided to ship Yamal oil by sea for the first time in the history of Russia's oil and gas industry. Thanks to cutting-edge technologies employed in building the production, transportation and, most importantly, lo... Read More »

First quarter 2016 results

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Bob Dudley, BP group chief executive, said: “Despite the challenging environment, we are driving towards our near-term goal of rebalancing BP’s cash flows. Operational performance is strong and our work to reset costs has considerable momentum and is delivering results. Furthermore, development of our next wave of material upstream projects is well on track.” The Brent oil marker price averaged $34 a barrel in the quarter, compared with $44 in 4Q 2015 and $54 in 1Q 2015, and refining margins were at the lowest quarterly average for over five... Read More »

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