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Over 400 people test positive for COVID-19 at main Kazakh oilfield
May 16, 2020

Over 400 people test positive for COVID-19 at main Kazakh oilfield

More than 400 people have tested positive for the coronavirus at Kazakhstan's top-producing oil field, health officials said on Friday. The number of infections at the giant Tengiz oil field rose from 17 on Thursday to 401 by Friday, according to officials in the Atyrau region. Kazakh state company KazMunayGas, ExxonMobil and LukArco - a subsidiary of Russia's Lukoil - are stakeholders in this project.

Lukoil concludes an agreement worth $800 million
June 7, 2019
Source: World Oil

Lukoil concludes an agreement worth $800 million

Lukoil has announced an agreement with New Age M12 Holdings Limited. The company has acquired 25% interest in the Marine XII license in the Republic of Congo. President of PJSC Lukoil said, "Entering this project is in line with our M&A strategy. The project is characterized by explored reserves, substantial production growth potential, access to well-developed infrastructure and it also fits our technological expertise". This agreement is worth $800 million.

Lukoil, Iraqi Minister of Oil explore areas of cooperation
June 7, 2019
Source: World Oil

Lukoil, Iraqi Minister of Oil explore areas of cooperation

Vagit Alekperov, the President of Lukoil, has met the Iraqi Minister of Oil, at the St. Petersburg International Economic Forum. They discussed the development of West Qurna-2 project and agreed to consider the possibility of early commissioning of Block 10 of Eridu field. Both the parties also expressed their interest in gas processing and petrochemical projects in Iraq.

Maire Tecnimont secures $527m contract
July 25, 2018
Source: Compelo

Maire Tecnimont secures $527m contract

Lukoil subsidiary, Lukoil NizhegorodNefteorgSyntez has awarded $527 million worth of two EPC contracts for Kstovo Refinery in Russia. The contract is secured by Italian firm, Maire Tecnimont subsidiary, KT-Kinetics Technology. The scope of the contract covers EPC activities for the deployment of a diesel fuel hydrotreater unit, a hydrogen production unit, and some other units.

Lukoil commissions new well
June 18, 2018
Source: World Oil

Lukoil commissions new well

Lukoil has announced the commission of the third well at the second development stage of Vladimir Filanovsky field. Post the launch of the newly commissioned well, which is a bilateral horizontal oil producing well, the field's average daily production reached its plateau level. A total of eight wells is projected at the field's second development stage.

Lukoil sees 75% climb in the Q1 net profit
May 29, 2018
Source: Irish Times

Lukoil sees 75% climb in the Q1 net profit

Russian oil major, Lukoil, has reported a jump of 75 percent in the first quarter net profit. The profits of the company rode on the back of recent surges in global crude rates to near four-year highs, pushing up revenue and margins. Lukoil said that its profit for the first quarter of 2018 stood at 109.1 billion roubles (€1.5 billion), up from R62.3 billion a year earlier.

Lukoil sees 75% climb in the Q1 net profit
May 29, 2018
Source: Irish Times

Lukoil sees 75% climb in the Q1 net profit

Russian oil major, Lukoil, has reported a jump of 75 percent in the first quarter net profit. The profits of the company rode on the back of recent surges in global crude rates to near four-year highs, pushing up revenue and margins. Lukoil said that its profit for the first quarter of 2018 stood at 109.1 billion roubles (€1.5 billion), up from R62.3 billion a year earlier.

New deal signed between Lukoil and Basra Oil for West Qurna-2 field
May 12, 2018
Source: World Oil

New deal signed between Lukoil and Basra Oil for West Qurna-2 field

In a new deal signed between Lukoil and the Basra Oil Company for West Qurna-2 field shall provide for an oil production plateau of 800,000 bpd. The plan observes that the oil production of 480,000 bpd will be reached in 2020 and 800,000 bpd is expected in 2025.

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