Baku, Azerbaijan, Aug 28
By Fakhri Vakilov-Trend:
In the first half of 2019, LUKOIL gas production in Uzbekistan increased to 7 billion cbm, which is 18 percent more than in the first half of 2018, Trend reports referring to the financial report of LUKOIL.
The growth was achieved thanks to the launch of the second stage of the gas processing complex at the gas production project at Kandym group of fields (Uzbekistan) in April 2018, read the message.
In addition, the total gas production by the LUKOIL Group in the first half of 2019 amounted to 17.4 billion cbm, which is 8 percent more compared to the first half of 2018.
The main factor in the growth of gas production was the development of projects in Uzbekistan, read the message.
Furthermore, the LUKOIL interim consolidated financial statements for the three and six months of 2019, prepared in accordance with international financial reporting standards (IFRS), state that LUKOIL's capital expenditures in the first half of 2019 amounted to 205 billion rubles, which is 9.6 percent lower than in the first half of 2018.
The decrease was mainly due to a reduction in investment in gas projects in Uzbekistan.
In total, in the first half of 2019, LUKOIL's revenue from sales increased by 7.9 percent compared to the first half of 2018 and amounted to 3,976 trillion rubles.
Revenue growth is associated with an increase in oil and gas sales due to an increase in production volumes of oil and oil trading volumes.
In the second quarter of 2019, sales revenue amounted to 2,125 trillion rubles, which is 14.8 percent more compared to the previous quarter.
The increase in revenue is associated with an increase in hydrocarbon prices and an increase in the volume of trading in oil and oil products, read the message.
($1 = 66.76 RUB on Aug 28)
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