LUKOIL's hydrocarbon reserves at the end of 2023 amounted to 15.1 billion barrels

LUKOIL's hydrocarbon reserves at the end of 2023 amounted to 15.1 billion barrels



Volume of proven hydrocarbon reserves of LUKOIL (MOEX: LKOH) according to the Securities and Exchange Commission (SEC) classification at the end of 2023 amounted to 15.1 billion barrels of oil equivalent. Interfax writes about this with reference to company documents.

Liquid hydrocarbons account for 76% of the total volume, gas - 24%. Russia accounts for 91% of proven reserves. The success of prospecting and exploration drilling in 2023 was 80% (in 2022 - 76%). The company explained this result by the use of advanced geological exploration methods.

LUKOIL noted that in Russia the rate of exploration drilling was 85%. Over the past year, the company managed to discover seven new fields and 23 deposits.

According to information on the company’s website, the volume of proven hydrocarbon reserves at the end of 2022 was estimated at 15.109 billion barrels of oil equivalent. As of 2022, Russia accounted for 92% of reserves, the bulk of which are located in Western Siberia. Among international projects, 41% of reserves were in Uzbekistan.

About the company's activities - in the publication "Kommersant" “LUKOIL missed out on Nadezhda again”.



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