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17.08.2009 LUKOIL CRUDE OIL PRODUCTION INCREASED BY 4% IN THE FIRST HALF OF 2009

17.08.2009
LUKOIL CRUDE OIL PRODUCTION INCREASED BY 4% IN THE FIRST HALF OF 2009  

LUKOIL Group total hydrocarbon production available for sale reached 2,220 th. boe per day in the first half of 2009, which is a 2.0% increase y-o-y. Crude oil production by LUKOIL Group increased by 4.0% y-o-y to 1,981 th. barrels per day.
Crude oil production of LUKOIL Group in the first half of 2009 totalled 48.63 mln tons. At the same time, crude oil output from the Yuzhnaya Khylchuya field in Timan-Pechora, brought into production in 2008, reached almost 3.2 mln tons. Natural and petroleum gas output of LUKOIL Group available for sale was 7.36 bcm: output as part of international projects totalled 2.35 bcm (grew by 26.2% y-o-y), output in Russia was down 23.4% y-o-y to 5.01 bcm. The decrease in gas output available for sale in Russia was due to the decrease in purchases of gas by Gazprom.
Throughputs at the Company’s refineries (including its share in throughput at the ISAB refining complex) increased by 10.4% y-o-y in the first half of 2009 and reached 29.97 mln tons. Throughputs at the Company’s refineries in Russia increased by 0.3% y-o-y, throughputs at the Company’s international refineries grew by 51.2% y-o-y.

Hydrocarbon production available for sale

 1H 20091H
 2008		Growth
Hydrocarbon production, th. boe per day2,2202,176+2.0%
   Crude oil output, th. bpd*1,9811,905+4.0%
   Natural and petroleum gas output available for sale, th. boe per day**239271-11.8%

 

Crude oil output, th. tons

 1H
 2009		1H
 2008		Growth
  LUKOIL Group output:48,63347,006+3.5%
Including      
Subsidiary companies47,40845,803+3.5%
Share in affiliated companies1,2251,203+1.8%
       
 Russia:45,78444,356+3.2%
Including      
Subsidiary companies45,63444,209+3.2%
Share in affiliated companies150147+2.0%
       
 International projects:2,8492,650+7.5%
Including      
Subsidiary companies1,7741,594+11.3%
Share in affiliated companies1,0751,056+1.8%
LUKOIL Group output,
th. bpd*		1,9811,905+4.0%

     *   Conversion ratio from tons to barrels characterizes the density of oil from each of LUKOIL oilfields.
   **   Conversion ratio from cubic meters to barrels of oil equivalents is 1,000 cubic meters = 5.885 boe.

Gas output available for sale, mcm

 1H
 2009		1H
 2008		Growth
  LUKOIL Group output:7,3568,402-12.4%
Including      
Subsidiary companies7,2078,267-12.8%
Share in affiliated companies149135+10.4%
    
 Russia:5,0106,543-23.4%
Including      
Subsidiary companies4,9956,527-23.5%
Share in affiliated companies1516-6.3%
       
 International projects:2,3461,859+26.2%
Including      
Subsidiary companies2,2121,740+27.1%
Share in affiliated companies134119+12.6%
       
LUKOIL Group output,
th. boe per day*		239271-11.8%

*   Conversion ratio from cubic meters to barrels of oil equivalents is 1,000 cubic meters = 5.885 boe.

Refinery throughputs, th. tons

 1H
 2009		1H
 2008		Growth
 Owned refineries**
29,96927,149+10.4%
   Russia21,85621,783+0.3%
   International8,1135,366+51.2%
 Third-party refineries2,2332,730-18.2%

** Including mini-refineries and the Company's share in the ISAB refining complex.

The information is based on preliminary operating data, which may be adjusted and corrected during preparation of LUKOIL financial accounts for the first half of 2009. So the figures in this press-release may differ from operating statistics, which will be published together with the financial accounts.

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