10 Apr 2013 16:01

Russneft investment program totals $700 mln in 2013 - Gutseriev

MOSCOW. April 10 (Interfax) - Russneft plans to spend $700 million on the investment program in 2013, company head Mikhail Gutseriev told Interfax.

"Overall, together with the gas projects, it's $700 million. But the gas program is separate. It will get $200 million," he said.

Russneft previously said it would invest 17.4 billion rubles ($580 million) in 2012.

Gutseriev also said the company had no plans to merge with Bashneft . "Who said that? I haven't heard that. There are no such plans for now. Let us assume that if it's beneficial, we will get together, but perhaps we will work and perhaps we will sell," he said.