LUKoil foresees production growth in 2009

Fri. September 19, 2008; Posted: 11:11 AM

Sochi, Sep 19, 2008 (RosBusinessConsulting via COMTEX) -- LUKOY | Quote | Chart | News | PowerRating -- LUKoil expects oil production to increase 1-1.5 percent in 2009, the Russian oil company's President Vagit Alekperov told journalists in Sochi today. He added that the rise would be buoyed by the launch of the Yuzhnoye Khylchuyu oilfield, as well as stabilizing production operations in western Siberia. Gas output is expected to increase 3.5-4 percent, the LUKoil chief said. Alekperov also reiterated that the entire LUKoil management team had made a decision to launch a share buyback.

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