LUKOIL head Vagit Alekperov said that the company was planning to invest 325 billion rubles in shelf fields until 2021. 6 billion rubles have already been invested.
The company plans to expand to Brazil and Western Africa. A 5-year contract for Western Kurna-2 development will be proposed in Iraq. Final negotiations will be organized in Iraq on January 17.
LUKOIL expects to increase extraction of oil by 1.5% in 2013. The company experienced reduction of extraction by 0.8% to 89.9 million tons last year.
