LUKOIL reports preliminary operating data for Q3 and 9M of 2019
For the nine months of 2019 LUKOIL Group's average hydrocarbon production excluding the West Qurna-2 project amounted to 2,337 thousand boe per day, which is 1.6% higher year-on-year. The increase was mainly driven by the development of gas projects in Uzbekistan, as well as oil production growth in Russia due to change in the terms of the external limitations of Russian companies' production volumes, LUKOIL says in a press release.
Oil production excluding the West Qurna-2 project for the nine months of 2019 totaled 64.2 million tonnes, which is 0.7% higher year-on-year. In the third quarter of 2019 oil production grew by 0.2% quarter-on-quarter in average daily terms.
Active development of the priority projects was on track. For the nine months of 2019 oil production at the V. Filanovsky field increased by 7% year-on-year. In October 2019, production started at the third production platform of the field.
For the nine months of 2019 oil production at the Yu. Korchagin field ramped up by 22% year-on-year due to drilling program within the field's second development stage.
The development of the Yaregskoye field and Permian reservoir of the Usinskoye field, including the launch of new steam-generating facilities, led to increase of high viscosity oil production for the nine months of 2019 by 18% year-on-year, to 3.7 million tonnes.
The development of growth projects in West Siberia also continued. The aggregate oil and gas condensate production at the V. Vinogradov, Imilorskoye and Pyakyakhinskoye fields for the nine months of 2019 increased by 17% year-on-year.
The share of the abovementioned projects in the LUKOIL Group's oil production excluding the West Qurna-2 project amounted to 18% for the nine months of 2019 compared to 16% for the nine months of 2018.
For the nine months of 2019, LUKOIL Group's gas production was 25.6 billion cubic meters, which is 4.0% higher year-on-year. The main driver of gas production growth was the development of projects in Uzbekistan.
As a result of the launch of the second stage of the Kandym gas processing plant in April 2018, production in Uzbekistan for the nine months of 2019 increased to 10.3 billion cubic meters (LUKOIL's share) which is 9% higher year-on-year.
For the nine months of 2019, refinery throughput at LUKOIL Group's refineries was 51.7 million tonnes, which is 2.8% higher year-on-year. In the third quarter of 2019 refinery throughput was 7.3% higher quarter-on-quarter in average daily terms.
Refinery throughput in Russia for the nine months of 2019 increased to 33.3 million tonnes, which is 3.3% higher year-on-year. The increase was mainly due to higher utilization rate of the Nizhny Novgorod refinery. A 6.8% quarter-on-quarter increase in refinery throughput in the third quarter of 2019 was due to scheduled maintenance works at the Perm refinery in the second quarter of 2019.
Refinery throughput in Europe for the nine months of 2019 increased to 18.4 million tonnes, which is 2.0% higher year-on-year. The growth was driven by the maintenance works at the refinery in Bulgaria in the first quarter of 2018. A 8.1% quarter-on-quarter increase in refinery throughput in the third quarter of 2019 was driven by scheduled maintenance works at the refinery in the Netherlands in the second quarter of 2019, as well as by higher utilization rate of the refinery in Italy.
