Manufacturing Industry
RUSSIA: $100,000,000,000 10-year oil and gas production expansion plans in addition to $35,000,000,000 refinery investment, OAO LUKOIL [Russia] Order #: 111506.
WWP- Report on Oil Gas & Petrochemicals in the Developing World, November, 2006
PROJECT OVERVIEW:
According to Vagit Alekperov, President of the local OAO LUKOIL, his company will expand its oil production by 50% within the next decade while gas output will rise 5-fold. As a result, oil production is expected to increase by 3 million barrels per day while gas production will increase to 50 billion cubic meters.
The company is thus expected to invest $100,000,000,000 over 10 years, including $35,000,000,000 on refining. In so doing, LUKOIL is said to be looking at the Turkish market as well as the Mediterranean in addition to being very much interested in the Baltic Sea region.
LUKOIL has a total employment of approximately 130,000 primarily involved in the production, refining and marketing of oil, natural gas and oil...
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