Surgutneftegaz Reports Its Business Plans For 2002

Russia's oil and gas giant Surgutneftegaz will allocate 54bn rubles ($1.79bn) in capital investments in 2002 according to the company's business plan, a source in the press service of Surgutneftegaz reported to RBC. The source reported that the company's capital investments amounted to 43.8bn rubles ($1.45bn) this year. In particular, a significant rise in capital investments is expected at the oil refineries of Surgutneftegaz in 2002. These investments will reach up to 11.6bn rubles ($385m). In addition, the business plan stipulates for a further annual increase in the volume of oil production. It will go up to 47 million tons next year. The volume of gas production is expected to reach 11.5bn cubic meters and 19.2 million tons of oil will be refined.