In 2014 LUKoil Overseas extracted 112 million barrels of oil, up 140% against the same period in 2013.
The company managed to achieve this owing to production on the Iraqi field Western Kurna-2. The volume of extracted gas totaled 6.8 billion cub.m.
The company’s share in the oil production in the associated company increased by 5.6% and constituted 10% in 2014 against 4.4% in 2013.
In the hydrocarbon production LUKoil Overseas increase its share by 3.8%, up to 13.3% in 2014 against 9.5% during the same period in 2013.
The auditors Miller and Lents, which have analyzed the probable and possible resources of the company by January 1, 2015, said that total volume of resources is 2 billion barrels.
The production has been fully compensated by growth of proved resources, which was mainly ensured by supplementary exploration of Gissar and Kandym fields as well as Shah Deniz.
Western Kurna-2 field, 65 km northwest of Basra, is the world second biggest undeveloped field with the extractible oil resources of about 14 billion barrels.
