Lukoil to boost gas output to 35-40 bcm till 2028, invest $85 bln

SAMARKAND, Uzbekistan, Sep 25 (PRIME) -- Russia’s oil company Lukoil intends to boost gas production to 35-40 billion cubic meters until 2028, CEO Vagit Alekperov told reporters on September 23.

Alekperov also said that the company’s development strategy envisages U.S. $80-85 billion investment in the next 10 years. A final version of the strategy will be discussed by managers on October 4-5 and considered by the board of directors in November.

“This year we want to discuss a 10-year program with heads of production facilities… and all vice presidents,” he said.

Alekperov said that Lukoil’s 3-year development program is based on oil prices of $50 per barrel and a ruble rate of 62-64 rubles against the U.S. dollar.

“We will calculate the next three years in detail,” the executive said.

CEO also said that his company plans to invest $3 billion in Uzbekistan in 2021-2022.

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