Moscow-Russia's largest oil producer, state-controlled Rosneft, plans to continue with major investment projects in 2009 despite plans to reduce total expenditure, company vice president Peter O'Brien said December 1, as it revealed an 80% increase in net income for the third quarter of 2008. "For a growing company such as Rosneft it would not be preferable to cut strategic projects such as Vankor," O'Brien said in an interview with Russia's Vesti TV channel. Rosneft plans to launch production at the giant Vankor oil field in East Siberia in the middle of 2009, having postponed its commissioning from the end of 2008.
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