29 Apr 2011 10:22

Rosneft plans $11 bln in capex in 2011

MOSCOW. April 29 (Interfax) - Rosneft plans capital expenditures totaling $11 billion in 2011, the company said in a presentation of its US GAAP financials for the first quarter of 2011.

The figure is based on an exchange rate of 30.5 rubles/$1 and does not include the cost of expanding capacity on the pipeline to Tuapse Oil Refinery.

Rosneft will invest $2.6 billion in the Vankor project this year.

The invested a total of $2.761 billion in the first quarter, 60% more year-on-year.

Rosneft's capex amounted to $8.931 billion last year.

The company said late last year that Rosneft would invest 415 billion rubles in 2011.

RTS$#&: ROSN