18 Sep 2009 16:59

Lukoil could up oil production 2% in 2009

SOCHI. Sept 18 (Interfax) - Lukoil expects oil production to rise 2% this year, Vagit Alekperov, the company's president, told reporters.

"There'll be about 2%-growth for oil this year," Alekperov said.

Alekperov said he was confident the company would see "significant growth for hydrocarbons in the next few years, partly from gas projects in Uzbekistan, Saudi Arabia and the north Tyumen region."

Alekperov said yesterday that the company expected overall growth in hydrocarbons production in 2010, but zero growth for oil.

According to the Fuel and Energy Dispatch Center, Lukoil produced 90.24 million tonnes of oil in 2008.

Lukoil Vice President Leonid Fedun said in April that the company's Russian and foreign assets could boost oil production 1.5% to 98.2 million tonnes in 2009.

The previous forecast was for an increase of 1.5%-1.8%.