00:59 GMT +322 October 2016


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    MOSCOW, JANUARY 13 (RIA NOVOSTI) - The LUKoil Directors' Board held a session in Moscow today to take stock of last year's preliminary statistics. The company increased petroleum output by 4.2% against 2002 to an approximate 81.5 million tons, and gas by 8% to 5.5 billion cubic meters, says a press release the LUKoil is circulating.

    The average daily petroleum yield per derrick had leapt over a ten ton mark by the year's end, as against nine tons for December 2002. The company started developing eleven new oilfields last year.

    The LUKoil processed a rough total 42 million tons of petroleum at its factories throughout the year - 0.4 million more than in 2002. Its petrochemical output amounted to 1.8 million tons - 8.1% more than the year before.

    LUKoil petroleum exports increased by 9.6% to 37.5 million tons. Company factories offered a total 34 million tons of petroleum products-20.4 million of this for the domestic market and 13.6 million for export.

    Investment expenditures made US$4.2 billion, on preliminary estimations - 90% more than for the preceding year. Capital investment increased by 26.6% to $2.57 billion. Asset acquisition to a total exceeding $1.6 billion accounted for a greater part of corporate investment expenditures.

    The conferees analyzed achievements on, and prospects for transnational projects involving the LUKoil. Its overseas assets of the preceding ten years comply with corporate developmental strategies, with an emphasis on endeavors based in Azerbaijan, Colombia, Egypt, Iran and Kazakhstan.

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