LUKOIL increased its average hydrocarbon production in 2018 by 3.8% YoY
In 2018 LUKOIL Group's average hydrocarbon production excluding West Qurna-2 project was 2,319 thousand boe per day, which is 3.8% higher year-on-year. In the fourth quarter of 2018 production increased by 1.9% quarter-on-quarter and averaged 2,371 thousand boe per day. The increase was mainly driven by the development of gas projects in Uzbekistan.
LUKOIL is one of the largest publicly traded, vertically integrated oil and gas companies in the world accounting for more than 2% of the world's oil production and around 1% of the proved hydrocarbon reserves. Main activities of the Company are exploration and production of oil & gas, production of petroleum products and petrochemicals, and marketing of these outputs.