Tatneft to raise investment by 46.7% to 143.5 bln rbl in 2019

MOSCOW, Jun 25 (PRIME) -- Russian oil company Tatneft plans to expand its investment program by 46.7% on the year to 143.5 billion rubles in 2019, the company said in a statement on Tuesday.

“Investment is planned at 143.5 billion rubles in 2019, including capital investment of 132.3 billion rubles, which is a 45.7 billion ruble, or a 46.7%, increase as compared with the level of 2018,” the statement read.

The investment portfolio of Tatneft stood at 97.8 billion rubles in 2018, and the company said in January that it expected the portfolio to rise to 127.3 billion rubles in 2019.

Under Tatneft’s strategy, investment will amount to 1.162 trillion rubles in 2019–2030, with upstream accounting for 799 billion rubles of the investment.

(62.9095 rubles – U.S. $1)

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