The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksLKOD.L Regulatory News (LKOD)

  • There is currently no data for LKOD

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Results of Reserves Assessment

14 Feb 2020 12:15

RNS Number : 0861D
PJSC LukOil
14 February 2020
 

LUKOIL COMPLETES RESERVES ESTIMATE AS OF THE END OF 2019

 

PJSC "LUKOIL" (hereinafter - the Company) announces the results of the reserves assessment and independent audit as of December 31, 2019.

According to the SEC classification, the Company's proved hydrocarbon reserves totaled 15.8 billion barrels of oil equivalent, 76% of which stood for liquids. The proved reserves replacement ratio for liquids, excluding the effect of changes in macroeconomic factors on evaluation, totaled 107% in 2019. The Company's proved hydrocarbon reserves life is 18 years.

As a result of geological exploration and production drilling conducted in 2019, LUKOIL added 642 million barrels of oil equivalent to proved reserves, which is 11% higher year-on-year. The largest contribution was from assets in West Siberia, Timan-Pechora and Russian sector of the Caspian Sea.

Optimization of development systems and wellwork programs at existing fields, as well as conversion of contingent resources to reserves added 108 million barrels of oil equivalent to proved reserves. Acquisition of assets in Russia and abroad in 2019 added 70 million barrels of oil equivalent to proved reserves.

The reserves dynamics was negatively affected by an 11% decrease in oil price and US dollar to ruble exchange rate used for reserves evaluation.

LUKOIL Group's Hydrocarbon Reserves

As of December 31, 2019

Liquids

Gas

Hydrocarbons

million barrels

billion cubic feet

million barrels of oil equivalent

Proved reserves

12,015

22,527

15,769

including:

Developed

7,799

10,390

9,531

Undeveloped

4,216

12,137

6,238

Probable reserves

4,671

9,275

6,217

Possible reserves

2,506

2,966

3,000

The independent audit of proved reserves was performed by Miller and Lents based on the commercial life-of-field approach. The conversion ratio from cubic feet to barrels: 1 barrel = 6,000 cubic feet.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
STRUSVARRVUUAAR
Date   Source Headline
13th Feb 20198:46 amRNSDirector/PDMR Shareholding
12th Feb 20197:00 amRNSTransaction in Own Shares
11th Feb 201912:16 pmRNSDirector/PDMR Shareholding
5th Feb 20192:30 pmRNSHolding(s) in Company
5th Feb 20191:42 pmRNSDirector/PDMR Shareholding
5th Feb 20197:00 amRNSTransaction in Own Shares
4th Feb 201912:30 pmRNSLUKOIL Reports Preliminary Operating Data for 2018
1st Feb 201912:26 pmRNSDirector/PDMR Shareholding
29th Jan 20197:00 amRNSTransaction in Own Shares
25th Jan 20199:04 amRNSDirector/PDMR Shareholding
25th Jan 20199:01 amRNSDirector/PDMR Shareholding
22nd Jan 20197:00 amRNSTransaction in Own Shares
17th Jan 20191:38 pmRNSDirector/PDMR Shareholding
17th Jan 201910:49 amRNSDirector/PDMR Shareholding
15th Jan 20197:00 amRNSTransaction in Own Shares
11th Jan 20191:16 pmRNSLUKOIL BoD Summarized Preliminary 2018 Results
31st Dec 20187:00 amRNSTransaction in Own Shares
27th Dec 20187:00 amRNSDirector/PDMR Shareholding
27th Dec 20187:00 amRNSTransaction in Own Shares
24th Dec 201812:36 pmRNSDirector/PDMR Shareholding
21st Dec 201810:49 amRNSDirector/PDMR Shareholding
19th Dec 201812:44 pmRNSDirector/PDMR Shareholding
19th Dec 201812:40 pmRNSDirector/PDMR Shareholding
19th Dec 201812:38 pmRNSDirector/PDMR Shareholding
18th Dec 20187:12 amRNSDirector/PDMR Shareholding
18th Dec 20187:00 amRNSTransaction in Own Shares
14th Dec 201812:11 pmRNSDirector/PDMR Shareholding
11th Dec 20187:00 amRNSTransaction in Own Shares
5th Dec 20181:00 pmRNSResult of EGM
4th Dec 201812:52 pmRNSDirector/PDMR Shareholding
4th Dec 201812:50 pmRNSDirector/PDMR Shareholding
4th Dec 20187:00 amRNSTransaction in Own Shares
3rd Dec 20187:51 amRNSDirector/PDMR Shareholding
30th Nov 20181:00 pmRNSTotal Voting Rights
28th Nov 201811:00 amRNS3rd Quarter Results
27th Nov 20187:01 amRNSDirector/PDMR Shareholding
27th Nov 20187:00 amRNSTransaction in Own Shares
21st Nov 201812:30 pmRNSDirector/PDMR Shareholding
21st Nov 201812:30 pmRNSDirector/PDMR Shareholding
21st Nov 201812:30 pmRNSDirector/PDMR Shareholding
20th Nov 20187:00 amRNSTransaction in Own Shares
15th Nov 20181:22 pmRNSDirector/PDMR Shareholding
14th Nov 20188:01 amRNSDrilling in Eastern Part of Yu. Korchagin Field
13th Nov 20181:23 pmRNSDirector/PDMR Shareholding
13th Nov 20189:30 amRNSLUKOIL Reports 3Q18 Preliminary Operating Data
13th Nov 20187:00 amRNSTransaction in Own Shares
9th Nov 201812:09 pmRNSDirector/PDMR Shareholding
9th Nov 201812:08 pmRNSDirector/PDMR Shareholding
9th Nov 201812:06 pmRNSDirector/PDMR Shareholding
7th Nov 20181:17 pmRNSDirector/PDMR Shareholding

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.