LUKOIL Overseas, the international operator of LUKOIL in exploration and hydrocarbon extraction projects, has shown vigorous growth on all production and financial indicators during the last five years. During this period the average yearly growth rate of production amounted to 20% while the increase of the reserves was 11%. That means the proven reserves of oil and gas in LUCKOIL's international projects have risen from 747 million barrels of oil equivalent (MMboe) in 2002 to 1,254 million barrels at the beginning of 2007.
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