Investment program of "RussNeft" for 2011 makes 14 billion Rubles.
St. Petersburg. Investment program of "RussNeft" (RUSN01) for 2011 makes 14 billion Rubles, said to the reporters the Head of the Company Mikhail Gutseriev at SPIEF-2011. According to him, 10 billion Rubles will be spent for drilling, 1 billion Rubles – for the construction of gas pipeline in the Tyumen Region, and about 3 billion Rubles – for gas utilization projects.
М.Gutseriev said, that the Company is going to actively develop gas projects. He also said that the strategy of the Company contemplates reserves growth by 2017 to 1 billion tons. Such growth can be achieved through the purchase of new fields, geologic exploration, and also 3-4 major projects of the Company, where production rate can be increased quite rapidly and without significant investments.