CEO: Russia’s Surgutneftegas not to cut investments in 2016

MOSCOW, May 4 (PRIME) -- Russian oil and gas company Surgutneftegas does not plan to reduce investments in 2016 as compared to the earlier plans, CEO Vladimir Bogdanov told reporters on April 30.

“No, we will fulfill everything that we’ve planned for this year,” Bogdanov said.

The company has based its 2016 business plan on a U.S. $38–45 per barrel oil price, he said.

Surgutneftegas will launch four deposits: Yuzhno-Nyurymskoye, Yuzhno-Talakanskoye, Yuzhno-Lyaminskoye and Logachyov later this year, and one more field in 2017.

Bogdanov did not confirm Surgutneftegas’ interest to the Erginsky, Layavozhsky and Vanneviysky blocks, denying an earlier statement of Natural Resources and Environment Minister Sergei Donskoi.

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