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    Pump jacks are seen at the Lukoil company owned Imilorskoye oil field, as the sun sets, outside the West Siberian city of Kogalym, Russia, January 25, 2016

    Russia's Oil Giant LUKoil Plans to Produce 400,000 Barrels per Day in S Iraq

    © REUTERS / Sergei Karpukhin
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    Russia's LUKoil company plans to produce 400,000 barrels of oil per day at the West Qurna-2 field in southern Iraq this year, the firm said in its presentation Wednesday.

    MOSCOW (Sputnik) — Russia's LUKoil produced 92 million metric tons of oil last year, an 8.6-percent drop compared with 100.7 million tons the previous year, the oil company said Thursday.

    LUKoil's fourth-quarter 2016 production grew by 0.7 percent from the third quarter, totaling 22.69 million metric tons, it added in the statement. The company's oil production in Russia by the end of 2016 decreased by 2.8 percent to 83.177 million tons.

    "Plans for 2017: maintain production at the level of 400,000 barrels per day," the presentation prepared ahead of LUKoil's first-quarter report states.

    Oil production overseas by the end of 2016 decreased by 13.8 percent to 3.751 million metric tons, including due to the decrease in volume from the West Qurna-2 project. 

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    oil production, West Qurna-2, Lukoil, Iraq
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