LUKOIL plans to invest about $22 billion in the North Caucasus within 15-16 years, its president Vagit Alekperov said in an interview with RT.
Gas extraction in the Caspian Sea will reach about 10 billion cubic meters annually and oil extraction will reach 6-8 million tons, he said.
A new oil field named after Filanovsky will be opened in 2014, another in 2016. New fields will be launched once every two years.
LUKOIL has advanced technologies. Drilling is held in Ghana, the Gulf of Guinea at a depth of about 2 km.
The Board of LUKOIL held a session in Astrakhan and approved a report on developing the North Caspian. It is one of the most promising oil regions. It contains approximately 4.5 billion tons of hydrocarbons. There are six extraction fields. Extraction was launched in late April 2010, with launching of the Korchagin field, developed by LUKOIL's subsidiary - LUKOIL Nizhnevolzhskneft.
LUKOIL earned up to $9.006 billion last year, rising by 28.5% according to GAAP, a three-fold increase according to Russian accounting standards. Oil extraction dropped by 1.7% in 2010, reaching 95.99 million tons. Gas extraction rose by 24.5%, reaching 18.55 billion cubic meters.
LUKOIL is the largest Russian private oil company. Its charter capital is worth 21.26 million rubles and is split into shares worth 0.025 rubles each. Its president, Vagit Alekperov, holds about 20.6% of the shares, Vice-President Oleg Fedun - 9.3%, according to September 2010 figures.
