Bloomberg News

Lukoil to Invest $48 Billion in Next Three Years to Boost Output

December 01, 2011

Dec. 1 (Bloomberg) -- OAO Lukoil plans to invest $48 billion in 2012-2014 as it seeks to revive oil and gas production growth.

The Russian oil producer expects production to rise at least an average 3.5 percent a year in the next 10 years, Lukoil said today in a statement after the board approved its strategy through 2021.

Link to Statement:{NSN LVIQLC3HBS3K <GO>}

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net


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