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Russian oil company increases production 3.5 percent

Oil&Gas Materials 17 August 2009 20:53 (UTC +04:00)

Azerbaijan, Baku, August 17 / Trend /

Crude oil production of Russian LUKOIL Group in the first half of 2009 totaled 48.63 million tons compared to 47 million tons in the same period of the last year, company's website reported.

In the territory of Russia, the company produced about 46 million tons of oil compared to more than 44.3 million tons in January-June last year. Within international projects, LUKOIL produced about three million tons of oil compared to more than 2.6 million tons during the same period of last year.

In the first half of 2009 the average daily oil production by the company was about 2,000 barrels and gas - 239,000 barrels in oil equivalent.

LUKOIL is a participant in the development project of Azerbaijani Shah Deniz gas field. The contract to develop offshore Shah Deniz field was signed on 4 June 1996. Participants to the contract are: BP (operator) -25.5 percent, Statoil Hydro - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, SOCAR - 10 percent.

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