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LUKOIL to Accelerate Hydrocarbon Production by 7 Percent in 2008
Russia’s oil giant, LUKOIL, will step up hydrocarbon production by 5 percent to 7 percent on year in 2008, Interfax-ANI reported with reference to the Saturday news conference of LUKOIL President Vagit Alekperov.
LUKOIL produced 113 million tons of hydrocarbon in 2007, having manifested the growth of just 2 percent, Alekperov gave the preliminary figures not long ago.
“This year, we will make up for the delay in production and reach the annual [growth] level of 5 percent to 7 percent,” Alekperov told the reporters in Moscow past Saturday.
The basic growth, the official went on, will be ensured by the launch of Yuzhno-Khylchuyusskoe field in Timano-Pechora province. Putting this field into operation has been slated for this summer, Alekperov specified.
The aggregate production from this field is estimated at 2 million tons in 2008.
The 2008 investments will exceed $11 billion, including $300 million to be injected in the geological survey, Alekperov said. “We hope to announce in 2008 the discovery of a good field in the Usinskoe area of Timano-Pechora,” Alekperov added.
www.kommersant.com
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