Lukoil increased gas production by 5% to 5.4 bln cubic m in Q1

The reduction of gas extraction at ht Nakhodka deposit was covered by the start of commercial gas extraction at the Korchagin deposit.

In Q1 2016 Lukoil increased gas extraction by 4.75 to 5.74 bln cubic m against Q1 2015.

The main gas deposit of the company is the Nakhodka deposit where gas extraction in Q1 2016 made up 1.776 bln cubic m, which is by 4.8% lower than in Q1 2015.

The reduction of extraction at the Nakhodka deposit was covered by the start of commercial extraction at the Korchagin deposit. The extraction fall in the Urals was due to the growth of gas consumption by the company. The volumes of gas extraction overseas (including the group’s stake in the extraction of dependent companies) rose by 17.8% against Q1 2015 mainly by means of extraction growth in  Uzbekistan and Azerbaijan.

In Q1 2016 the production of liquid hydrocarbons at the gas processing plants of Lukoil in the Western Siberia, in the Urals and Volga region made up 3.4 mln barrels of oil equivalent against 2.7 mln barrels of oil equivalent in Q1 2015.