25 Feb 2011 18:24

RussNeft to invest 18 bln rubles in drilling, capital construction, gas program in 2011

MOSCOW. Feb 25 (Interfax) - RussNeft plans to invest 18 billion rubles in drilling, capital construction and the gas program in 2011, according to the inhouse publication Vremya RussNefti.

The investment is detailed in the company's approved business plan.

RussNeft will spend 10 billion rubles on drilling, 6.1 billion rubles on capital construction and 1.9 billion rubles on the gas program.

Investment in Khanty-Mansii autonomous district will total 6.8 billion rubles.

RussNeft fully repaid debt to contractors, which totaled 800 million rubles at the start of 2010.

The company plans to boost oil production to 18 million tonnes in 2017, up from 12.9 million tonnes in 2010.

RTS$#&: RUSN