More oil investments in Komi Republic
Lukoil-Komi in 2010 intends to invest 20 billion RUB in the regional oil industry.
Talking at a conference today, General Director Azat Khabibullin said that about 20 billion RUB will be invested annually in regional field development. The investment, more than ten times higher than 10 years ago, has helped the company boost production in the region. While oil production in the region in year 2000 was 1,96 million tons, production had boomed to 9,28 million tons in 2009, Mr. Khabibullin said, Komiinform.ru reports. Lukoil-Komi is a subsidiary of Lukoil. It has operations all over the Timan-Pechora province. The company’s production in 2008 totaled 14,466 tons, the company’s website informs. Lukoil-Komi has a total of 72 licenses in the area.
