Sibneft Oil Company Reports Its Plans On Capital Investments In 2002

The volume of capital investments of the Russian oil company Sibneft are expected to amount to about $600 million in 2002, the company's senior vice-president Alexander Korsik announced at a briefing today. He mentioned that earlier Sibneft was going to invest about $700 million in its capital assets but then it changed its plans. This year the oil company will invest $595 million in its capital assets. Commenting on possible the acquisition of shares in other companies by Sibneft, Korsik said that their oil company is going to take part in several tenders, for example, for purchasing a 19.68% block of shares in Slavneft. As reported, one of the recent serious investments of Sibneft was the purchase of a 50% block of shares in the Yugraneft oil company.