Lukoil Group's average hydrocarbon production excluding the West Qurna-2 project was 2.152 MMboe/d, 4.2% higher quarter-on-quarter (q-o-q). The growth was attributable to the dynamics of the external limitations on oil production due to the OPEC+ agreement, as well as to the recovery of gas production in Uzbekistan, the company said May 14. Hydrocarbon production was 7.6% lower year-on-year (y-o-y) due to the OPEC+ agreement.
Oil production excluding the West Qurna-2 project was 18.8 million tonnes in first-quarter 2021, which is 2.4% higher quarter-on-quarter and 11.2% lower (y-o-y) in average daily terms. Oil production dynamics were driven by the OPEC+ agreement concluded in April 2020, which led to limitations on oil production by the group in Russia and at certain international projects. Due to the agreement, oil production by the group in Russia was cut in May 2020 by about 310,000 b/d, or by 19%, as compared to first-quarter 2020, and has been gradually recovering subsequently. In first-quarter 2021, oil production by the group in Russia was 130,000 b/d higher compared to May 2020.
In West Siberia, total oil and gas condensate production in first-quarter 2021 at the V. Vinogradov, Imilorskoye, Sredne-Nazymskoye, and Pyakyakhinskoye fields increased by 8.3% (y-o-y), to 1.1 million tonnes.
High viscosity oil production at Yaregskoye field and Permian reservoir of Usinskoye field the quarter increased by 4.3% (y-o-y), to 1.3 million tonnes.
Implementation of drilling programs at V. Filanovsky and Yu. Korchagin fields in the Caspian Sea increased total oil and gas condensate production in the quarter by 1.6% (y-o-y) to 1.9 million tonnes. V.I. Grayfer field development continues. Subsea pipelines and cable lines are being laid and shipyards are constructing platform topsides.
In first-quarter 2021, gas production increased in average daily terms by 9.2% q-o-q and by 5.6% (y-o-y), to 8.8 billion cu m.
In Russia, gas production increased in average daily terms by 1.1% (q-o-q) and decreased by 7.6% (y-o-y), to 4.3 billion cu m. Dynamics of gas production in Russia was driven by the change in associated petroleum gas production due to the external limitations on oil production.
Outside Russia, gas production increased in average daily terms by 18.1% (q-o-q) and by 22.1% (y-o-y), to 4.5 billion cu m. The growth was driven by recovery of gas production in Uzbekistan after temporary decline in 2020 due to lower demand from China for gas produced in Uzbekistan amid the COVID-19 pandemic.
Refining
Refinery throughput at LUKOIL Group's refineries for the quarter was 14.4 million tonnes, 9.9% higher (q-o-q), and 15.5% lower (y-o-y).
Refinery throughput in Russia in first-quarter 2021 increased by 3.6% (q-o-q) to 10.0 million tonnes due to scheduled maintenance in fourth-quarter 2020. Refinery throughput in Europe in first-quarter 2021 increased by 27.6% (q-o-q) to 4.4 million tonnes mainly due to scheduled maintenance works and throughput optimization at refineries in Italy and Bulgaria in fourth-quarter 2020.
