IEA: Russia’s energy firms raise upstream investment 38% 2017

MOSCOW, Jul 31 (PRIME) -- Russian energy companies increased investment in upstream projects by 38% to U.S. $58 billion in 2017, the International Energy Agency (IEA) said in a report on Tuesday.

“While a number of companies increased capital spending in 2017, most have opted for fairly conservative programs in 2018 with total spending across the sector likely to remain broadly flat in ruble terms. Much of this spending is being allocated to lowering decline rates at West Siberian brownfields,” the report read.

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