LUKoil is Russia’s second-largest crude oil producer, with output estimated at 87 mln tonnes in 2012 (including 3 mln tonnes produced outside Russia). The company’s Russian refineries process over 50% of its domestic output. LUKoil is mostly focused on the West Siberian producing basin. However, it also has two crude oil projects in the offshore Caspian, several large gas ventures in Uzbekistan, stakes in projects in Kazakhstan, deep-water exploration off the coast of West Africa and stakes in refining capacity in several European countries. LUKoil is the operator of the West Qurna-2 crude oil block in Iraq.

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