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Lukoil plans to invest about $8.5 bln into Caspian fields in 10 years

ASTRAKHAN, March 2. /TASS/. Lukoil plans to invest around 500 bln rubles ($8.5 bln) into Caspian fields in ten years, General Director of Lukoil-Nizhnevolzhskneft (wholly-owned subsidiary of Lukoil) Nikolai Lyashko said on Thursday.

"Our company plans to invest about 500 bln rubles [$8.5 bln] into Caspian projects in ten years. This implies all fields, including Rakushechnoe, Kuvykin, and the third stage of Filanovsky field," the top manager said.

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Oil price of $60 per barrel will be dominant in 2017 — Lukoil

The company invested about 87 bln rubles ($1.5 bln) into the Caspian fields last year, Lyashko said. Investments will amount to 47 bln rubles ($803.1 mln) this year, he added.

It was reported earlier Lukoil discovered six large oil and gas fields during exploration in the Caspian region (Filanovsky, Korchagin, Sarmatskoe, Khvalynskoe, Rakushechnoe and 170 km) and identified 10 promising structures with overall C1+C2 category resources of 1.1 bln tonnes of oil equivalent.

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