LUKOIL is one of the largest oil & gas vertical integrated companies in the world accounting for over 2% of crude production and circa 1% of proved hydrocarbon reserves globally.
LUKOIL is to acquire the 50% operator interest in the Area 4 project in
Mexico, consisted of two oil fields, Ichalkil and Pokoch, which are located in the Gulf of Mexico. The
construction of production facilities is currently being finalized, and
production of first oil is scheduled for the third quarter of 2021. The
partner in the Project is PetroBal.
LUKOIL's Annual General Shareholders Meeting in the form of absentee voting took place in Moscow. The Meeting approved the 2020 Annual Report of the Company and the 2020 financial statements, as well as decision on distribution of profit for 2020 was made. The shareholders also approved the final dividend distribution and elected the Board of Directors of PJSC "LUKOIL".
LUKOIL commissioned PENEX isomerisation unit with annual feed rate of 800 thousand tonnes at the Nizhny Novgorod refinery. The unit will allow to apply low temperature isomerisation to light naphtha in order to produce high-octane blending fuel. The Company also completed the construction of a Petroleum Residue Recycling Facility - another
major investment project at the refinery.