ASTRAKHAN, December 14. /TASS/. Russia’s oil major Lukoil plans to invest roughly 50 bln rubles ($685 mln) in development of its Caspian fields in 2021, a representative of press service of the company’s subsidiary Lukoil-Nizhnevolzhskneft told TASS.

"In 2021, the company will continue operating drilling at offshore fields, exploration activities, as well as construction of offshore facilities for the Graifer field. The projected amount of investment for 2021 stands at around 50 bln rubles," the representative said.

It was also noted that the company invested around 55 bln rubles in Caspian projects in 2020. According to the data provided by the Industry Ministry of Russia’s Astrakhan Region, crude oil production amounted to 6.7 mln tonnes in ten months of this year, up by 1% year-on-year.