UPDATE: Lukoil to maintain investment in Caspian projects at 45-55 bln rbl

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ROSTOV-ON-DON, Feb 8 (PRIME) -- Russian oil company Lukoil plans investment in its North Caspian deposits to remain flat at 45-55 billion ruble in 2018-2019, CEO Vagit Alekperov told reporters on Thursday.

“Total investment in the North Caspian projects stands at around 45-55 billion rubles. We will keep the pace this year to install a platform, and next year to install a platform… Every year we construct new hydraulic facilities in the Caspian Sea,” he said.

He added that Lukoil sees the Caspian shelf as an integrated complex, but not separate fields.

The company is now considering construction of a gas chemical facility in Russia’s southern Stavropol Region, Alekperov also said.

“Gas produced at the Filanovsky field contains up to 12% of ethane. This is a unique quantity and of course we want to use this valuable material for polymers production.”

Lukoil plans to choose a contractor for the Rakushechnoye field on the Caspian shelf until April.

It also hopes to sign agreements on development of new fields in Kazakhstan as the state’s legislation has become investor-friendly.

(56.9533 rubles – U.S. $1)

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