In 2013, Lukoil managed to increase oil production to 90.8 million tons

Lukoil has overcome the negative trend of the last three years on the decrease of its average daily production of “oil”, it increased it by 1.9% as compared with 2012 (to 90.8 million tons). The expected growth of hydrocarbon reserves is 112%. The private oil company managed to increase the volume of extracted mineral resources due to new assets (Samara-nafta and Kama-oil) and successful activity at fields of the Caspian Sea and Western Siberia.

Last Monday the oil company’s Board of Directors summed up the preliminary results of the previous year and determined the priorities of the further work. According to the company’s press centre, in 2013 Lukoil managed to increase the average daily production of oil by 0.9 million tons (1.9%). Geological exploration, carried out in 2013, allows it to expect an increase of the extractable reserves of raw materials to 130.2 tons of oil equivalent (36.7 billion cubic meters of “blue fuel” and 93.5 million tons of liquid hydrocarbons). Last year, the company received 42 new licenses for use of subsoil.