12:26 - 4.02.2020

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February 4, Fineko/abc.az. Growth of oil & gas production of LUKOIL (Russia) in 2019 is linked with the commissioning of Shah Deniz 2 in Azerbaijan in 2018.

As it was reported previously, LUKOIL announced the preliminary production results for Q4 of 2019 and for the year as a whole.

According to LUKOIL’s report, oil production in 2019, excluding West Qurna 2 project, amounted to 85.9 million tons (by 0.3% more than in 2018). The increase in oil & gas production is linked mainly with the launch of Shah Deniz 2 in Azerbaijan in 2018, as well as the acquisition of a stake in the Marine XII project in the Republic of the Congo in September 2019.

Oil & gas production did not change in Q4 of 2019 compared with Q3 of 2018.