The largest Russian private oil company OAO LUKOIL is going to develop a crude production stabilization program till the end of this year, the Vice-President and co-owner of the company Leonid Fedun said to the journalists on Wednesday.
According to him the company’s crude production is to be falling till 2012 and from 2013 it is to start climbing. The rise will be moderate in speed but will continue in the long-term perspective, Fedun specified.
In June the head of the LUKOIL investment and investor relations department Andrey Gaidamaka reported that in 2011 the company expects a decrease in liquid hydrocarbons production. Last year LUKOIL’s production fell by 1.7% — to 95.99 million tons of oil.
In his turn the Vice- President of the company Vladimir Mulyak said at the company’s annual general meeting in June that in 2013 LUKOIL is to stabilize crude production, while from 2014 to 2021 the production will be rising by 1.4% per year. According to him, the company holds realistic to reach the level of crude production of 100 million tons a year in the territory of Russia by 2017-2018.
Метки: crude production, LUKOIL, oil, oil companies, oil industry, Russian energy industry news
