Volumes of oil produced by entities, forming the Company’s consolidated financial results (subsidiaries and companies where LUKOIL holds a stake) totaled in the first quarter of 2004 20,97 mln tons, which is 9,1% more than in the same period of 2003.

LUKOIL subsidiary companies produced 20,17 mln tons, which is 13,1% more than in 2003. Natural production growth (without consolidation of equity companies) amounted to 6,6%. 

Overall production of LUKOIL subsidiary companies and equity companies in the first quarter of 2004 totaled 21,22 mln tons, which is 7,9% more than in the same period of 2003.

 

OIL PRODUCTION (thousand tons)	1Q 2003	1Q 2004	Growth (%)
Russia, total including   Subsidiary companies   LUKOIL’s share in equity companies	19 002       17 561   988	20 415       19 869   293	7,4%       13,1%   -70,3%
International projects, total   including   Subsidiary companies (PSA)   LUKOIL’s share in equity companies	668       271   397	804       306   498	20,4%       12,9%   25,4%
Total, production   including   Subsidiary companies     LUKOIL’s share in equity companies	19 670       17 831   1 385	21 219       20 174   792	7,9%       13,1%   -42,8%

This information is based on preliminary production data, which may be adjusted and corrected during preparation of LUKOIL financial accounts for the first quarter of 2004. So there may be divergences from production statistics, which will be published together with the financial accounts.