“LUKOIL” the strategy for 10 years has maintained a landmark production of 100 million tons of oil

Moscow. September 23. INTERFAX.RU – the Board of Directors of “LUKOIL” in late November – early December plans to approve the development strategy of the company for the future, told reporters on Saturday the President of the company Vagit Alekperov.

“We for the first time this year and want to discuss its 10-year program together with the heads of our businesses. 4-5 (October – if) in Kogalym, we collect all of the heads of our key departments and we will be two days to lead discussion sections, Vice-presidents of the company will participate” – he said in Karshi in Uzbekistan.

According to him, currently worked out in detail a three-year development program, ten will be presented conceptually. “Because we can’t for such a long period to make predictions on the price of our product. Three years we can, in sufficient detail to calculate,” explained the President of the company.

“The price of oil that we put is $50 and the ruble 62-64 against the dollar, – said Alekperov. – This three-year economy will be done”.

“We believe that over a 10-year period, we should increase 1.1 to 1.2 billion tons of reserves and to keep the shelf production of 100 million tons of oil and gas – 35-40 billion cubic meters. Investment somewhere in the $80-85 billion,” he continued.

“For the whole 10-year period we have retained a large volume of exports of diesel fuel, – said the head of the company. – Our regional presence in Europe gives us the opportunity to consistently ensure the supply of our petroleum products.”