LUKOIL investments in development of North Caspian fields to exceed 0.5 trillion rubles

Investments of Russia's largest private oil company Lukoil in the
development of deposits in the North Caspian Sea, as well as the coastal
infrastructure, will exceed 500 billion rubles, Prime Minister Vladimir
Putin said on Wednesday, RIA Novosti reports.

Putin said that the implementation of development projects in the North
Caspian Sea will enhance the country's energy potential and create jobs, as well
as provide work for the shipbuilding industry.

Earlier on Wednesday LUKOIL signed three agreements with contractors for
construction work at the Filanovsky oil and gas field in the presence of the Prime Minister. The field was discovered in the northern part
of Caspian Sea in 2005 and is expected to be commissioned in 2015.