LUKoil posts forecast on oil production of its subsidiaries

According to preliminary data, the volume of oil production in all subsidiaries and dependent companies within LUKoil will reach 78m tons in 2002, including from participation in Product-Sharing Agreement projects. In particular, oil production in projects abroad will total 2.5m tons. The expected rise in oil reserves will be 1.6 times higher than planned initially and reach 195.6m tons of fuel. The volume of oil processing at LUKoil refineries will amount to 41.7m tons, which will be 1.9m tons more than planned. In particular, 33.9m tons of oil will be processed at Russian refineries and 7.8m tons - abroad.

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