Lukoil targets 4%/year output growth to 2013

摘要

Moscow-Russia's second-largest oil producer Lukoil expects a compound growth rate of 4%/year in its total oil and gas output from 2011 through 2013, the company said November 30, mainly through increased natu- ral gas production. "The growth will be realized, in part, by increasing gas output thanks to a program to utilize associated gas and increasing natural gas production at the Khauzak-Shady project in Uzbekistan," it said in a statement. At the same time, Lukoil expects a further fall in crude production in 2011, Lukoil Deputy Vice President Andrei Gaidamaka said during an investor presentation. "Crude production in 2011 will be down, but I can't give a figure," Gaidamaka said.